Stock Market Bounces Back

The Wall Street Stock Market has bounced back, after yesterday's sell-off. On February 27, the Dow Industrials plunged 416 points, causing unease among investors.

On Tuesday, February 17, the Dow dropped 416 points, which was 3.3 percent. This was the largest single-day point loss since the day the stock market reopened after the September 11, 2001 attacks, according the CNN.

Federal Reserve Chairman Ben Bernanke calmed investors after he told a House panel the the markets seem to be "working well" and are functioning normally. He also said that the sell off hasn't altered the Fed's view on U.S. economic growth.

After the Federal Reserved Chairman's remarks, the Dow soared more than 100 points.

The Fed Chairman allayed some fears of a slowdown in the in the U.S. and Chinese economies that brought on Tuesday's drop. There were remarks earlier in the week from former Fed Chairman Alan Greenspan, warned that a U.S. recession could take hold this year. Greenspans remarks may have contributed to Tuesday's declines.

A Commerce Department report that the U.S. economy grew at an annual rate of 2.2 percent in the fourth quarter. The reading of the gross Domenic product was slightly below expectations, but they were not as low as some investors feared they would be.

Bernanke's comments and the GDP report helped depressed stock prices look a little more attractive. "It's typical that you get a bounce back the next day,; said Joseph V. Battipahlia, Chief Investment Officer and Ryan Bect & Company "Now we're essentially flat on the year. Can we go up from here or down? That sorting-out process will continue now."