Big rebound on Wall Street

Wall Street has launched a massive rebound, sending the Dow Jones industrial average up about 550 points Thursday after driving it near its lows for the year.

Following three days of selling that wiped out about $1 trillion in shareholder value, many investors, though nervous about the economy, appear to believe the market has priced in enough bad news.

Analysts also say investors were positioning themselves ahead of a meeting of Group of 20 leaders in Washington. The meeting could possibly bring some decisions about mending the troubled global
financial system.

In the last moments of trading, the Dow Jones industrial average is up about 550 points, or 6.7 percent, at the 8,839 level.