U.S. markets bounce back

The U.S. markets had a much better Tuesday than they did last week. The Dow Jones Industrial Average rose 157.18 to close at 12,207.59.The Nasdaq Composite Index climbed 44.46 to 2,385.14. The Standard & Poor's 500 was up 21.29 to close at 1,395.41. Their surge followed a strong day in the Asian markets. The Nikkei 225 rose 202.25 points, or 1.22%, to finish at 16,882.92 points, snapping a five day losing streak that saw the index plummet 8%. The Heng Seng index in Hong Kong rose 2.1%, or 393.68, to close at 19,058.56. The comments came as former Federal Reserve chairman Alan Greenspan was quoted as saying that the U.S. economy has a "one-third probability" of having a recession this year, according to an interview with Bloomberg. "We are in the sixth year of a recovery; imbalances can emerge as a result," Mr. Greenspan said, according to the report. "Ten-year recoveries have been part of a much broader global phenomenon." Today's emergence of the financial markets came after the Dow Jones Industrial Average fell 416 points, or 3.29%; the Standard & Poor's 500 fell 50 points or 3.47% and the Nasdaq Composite Index dropped 96 points or 3.86% on Feb. 27.