The U.S. stock market endured its worst performance in 18 months on Thursday, driven lower by another slump in Chinese shares and heavy selling by technical traders.
The stock market is rising to record highs after Federal Reserve Chairman Ben Bernanke said the central bank would continue to support the U.S. economy.
The Dow rose to its highest close of the year Tuesday, ending 146 points from a record. Stocks gained after impressive results from two big consumer brands.
U.S. stocks had their best day since the election. Market-watchers are citing optimism about a deal to avoid the so-called fiscal cliff of tax increases and government spending cuts.
U.S. stocks opened higher as the Dow Jones industrial average heads higher for the second day in a row. The early gains turned the Dow positive for the year.