Wall Street bounces back as some beaten-down bank stocks recover

Stocks closed higher on Wall Street as some of the most breathtaking moves from a manic Monday reversed course. The S&P 500 rose 1.7% Tuesday after a report showed inflation is still high, though no more than expected. The Nasdaq composite rose 2.1% and the Dow Jones Industrial Average added 1.1%. Several bank stocks bounced back, recovering some of their plunges from a day earlier caused by worries that customers could yank out their cash in the wake of two bank failures.