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Stocks jumped on Wednesday as global markets showed tentative signs of regaining their footing after an extended rout fueled by growth concerns.

China’s central bank cut interest rates and lowered the amount of reserves banks must hold for the second time in two months on Tuesday, ratcheting up support for a stuttering economy and a plunging stock market that has sent shockwaves around the globe. The Nasdaq...

Stocks once again showed a strong move to the upside at the start of trading on Wednesday, mirroring the performance seen in the previous session.

The Standard & Poor’s 500 index lost 13 points, or 0.6 percent, to 2,083 and the Nasdaq composite fell 29 points, or 0.6 percent, to 5,030.

The VSTOXX index that monitors volatility in European stocks, hit 35 on Monday morning, the highest since the 2012 euro crisis woes.

The People’s Bank of China reformed the exchange rate formation system on August 11 to better reflect market development in the exchange rate of the Chinese yuan against the US dollar.

The People’s Bank of China, the country’s central bank, on Tuesday morning moved to devalue its tightly controlled currency, the Yuan, following weaker than expected Chinese import and Export data over the weekend.

Robert Kleinhenz, chief economist with the Los Angeles County Economic Development Corp., agreed.

We are not expecting conditions to worsen in China.

Shares in banks and asset managers also fell, and the Euro STOXX Volatility Index rose to its highest since late 2011 – more evidence of investor unease.

Rupee decreased to below the Rs 66 level against the dollar for the first time in nearly two years in opening trade today.

It also increased the amount of money available for lending by reducing the minimum reserves banks are required to hold by 0.5%.

The benchmark S&P index has accumulated 9.95 percent of losses in just five sessions.

Many traders had hoped that such support measures, which could include an interest rate cut, would have come from Beijing over the weekend after its main stocks markets slumped 11 percent last week. The world’s second-largest economy moved two weeks ago to devalue its...

Many traders had hoped Beijing would take support measures, such as an interest rate cut, over the weekend after China’s main stocks markets slumped 11 percent last week.