A day after its worst single-day loss since the 2008 financial crisis, the Dow Jones Industrial Average jumped in early trading Tuesday morning.

In the moments after the opening bell, the Dow jumped up more than 600 points.

Global markets also bounced back on Tuesday.

Sentiment was helped somewhat after U.S. President Donald Trump said he would ask for a tax cut and other steps to ease the pain of the spreading coronavirus outbreak.

Benchmarks are up in London, Frankfurt, Shanghai and Tokyo advanced. The U.S. is expected to rise on the open.

Oil prices also bounced back from a record-setting 25% fall, triggered by a dispute among major oil producers about output levels.