MARKETS / FINANCE

"China needs to drop the fantasy of keeping a high growth rate of 7 or 8 percent and just accept 6, 7 or even 5 percent," said Wang Jianlin, CEO of the Dalian Wanda Group.

European shares are now on course to recover most of the week's losses on a day that saw Chinese and Asian stocks make significant gains.

The Shanghai Composite Index clocked its biggest one-day gain in eight weeks. Other Asian markets also closed higher.

Wednesday's rise on the Dow reassured markets while the Bank of Japan downplayed fears about China's economy.

Only about a quarter of American millennials say they've invested in the stock market. The downturn could cement their opinions -- or change their minds.

The cannabis industry has battled stigma and now marijuana universities are determined to foster a sense of legitimacy for pot professionals.

This week’s massive sell-off was similar to the 2010 "flash crash," but with some significant differences.

Some analysts believe Beijing's stock market policy -- and economic strategy -- need to be much more transparent.

Officials are looking to prevent large capital outflows following "Black Monday."

The Dow Jones Industrial Average posted its third-biggest single-day point gain in history on Wednesday. 

Chinese Premier Li Keqiang also said Wednesday China still has room to meet its economic targets.

The 140 billion yuan stimulus was provided through the central bank's short-term liquidity operations to enhance cash flow and stabilize funding costs.

China's rate cuts reassure some investors, but concerns about the Chinese economy, and Tuesday's falls, spook others.

Following a day of volatility in Asian markets, European stocks fell sharply in Wednesday morning trade.

While stocks in Japan, South Korea and Australia recovered, benchmark indexes in India fell yet again.

Chinese stock indexes remained volatile as investors reacted to the latest measures by the Chinese central bank.

Traders had begun the day optimistically after China cut its benchmark interest rate for the fifth time in nine months in an attempt to boost slowing economic growth.

"People want to take their money out of China and put it in a safe location,” an economist said.

Momentum stocks, including Apple, Netflix and Facebook, helped lead the S&P 500 technology sector higher.

Bank of America and Apple had the most shares traded Monday, when the Dow opened up by dropping by 1,000 points.

American confidence in the marketplace remains unusually shaky following the agony of the Great Recession.

“Oil just can’t stop sliding and local investors are very worried about where the bottom is,” said Sebastien Henin, head of asset management at the National Investor in Abu Dhabi.

Fear and biases come into play, affecting decision-making and risk-taking, when markets dip, observers say.

As global markets continue to stumble this week, economists question whether the U.S. is strong enough to move away from crisis-level interest rates.

"I think we'll have very weak growth," French Economic Minister Emmanuel Macron said in a meeting with German diplomats and journalists.

U.S. stocks rebounded Tuesday after China cut its benchmark interest rate for the fifth time in nine months in an attempt to boost slowing economic growth.

Wang Jianlin, the richest person in Asia and chairman of the Dalian Wanda Group, was the hardest hit, losing $3.6 billion.

The move is the fifth one since November by the People’s Bank of China, which is struggling to contain a stock market crash and stem an economic slowdown.

After suffering severe losses on Monday, European indexes jumped over 3 percent during early trade Tuesday.