US stocks saw choppy trading on Tuesday with the Dow staging a recovery after starting the session on a weak footing.
Having lost 567 at the open on Tuesday the Dow then rallied to a 350-point gain but continued to see-saw throughout US morning trade.
As at 1644 GMT, the Dow traded around 0.4% lower. It was a similar story for the S&P 500 Index, which was down by 0.66%.
UK and European equity markets, meanwhile, dropped sharply on Tuesday in the aftermath of the sharp sell-off in New York on Monday.
The FTSE 100 closed just over 2% lower on Tuesday, while the CAC, DAX and Eurostoxx all lost around 2.4%.
In currency markets, the dollar basket was little changed, shedding earlier gains after official data showed the US trade deficit had reached its highest level since 2008.
Brent crude oil futures were also little changed, at around $67 per barrel, while gold was down by 0.23%, giving up its earlier gains. The latter could be a sign that the worst of Monday´s risk aversion may have past for now at least.
Bitcoin also showed signs of stabilisation, up 1.6% on the session as at 1655GMT, trading at $6,967. The crypto earlier traded below the $6,000 mark before staging a sharp recovery.
The VIX, a measure of capital market volatility, broke through the 50 level earlier on Tuesday. It was last seen at around 40.1, though still up 7.4% on the day.
“Put your seatbelts on. It’s going to be a volatile ride for the next several trading sessions,” said Chad Morganlander, portfolio manager at Washington Crossing Advisors.