Looking at the intraday chart of the Dow Jones it looks like it fell hard until 2pm and then rebound sharply at approximately 2:30... talking about volatility...
3:30 pm : The major indices have staged an expeditious rebound from their worst levels of the session, aided by what appears to be some program trading and, most likely, some short-covering activity.
The financial sector (-0.9%) has gone along for the ride and has played a major role in the broader market's recovery. At its lows for the day, the financial sector was down 2.8%.
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