The Shanghai Composite index climbed 2.3%, and Hong Kong’s Hang Seng index added 3.5% in further signs of stability.

Investors get nervous when a major market index drops below its average price over the past year as it can indicate a point of selling pressure once the market recovers.

The supermarket chain Tesco PLC said it would sell its South Korea business for $6.1 billion in cash to private-equity firm MBK Partners, the Journal also reported.

“To say it’s driven exclusively by one stock is a little bit overblown”, said Paul Springmeyer, senior portfolio manager at the Private Client Reserve at U.S. Bank.

Crude followed the equities market higher today, thanks to a weaker <strong>dollarstrong>, and as strong gasoline demand offset an increase in domestic inventories. At the same time, stocks of Apple’s suppliers – Avago Technologies, STMicroelectronics NV and Skyworks Solutions- also went down.

Apple stocks is down by 0.8 percent to $111.44 after the company claimed it will update Apple TV in the App Store and released its product in San Francisco. As hard as this may sound, when markets are volatile, it’s a good time to stay put and not make any moves. “As we all know, during bear markets, rallies can be fierce, but usually short-lived”, Mark Newton, chief technical analyst at Greywolf Execution Partners, said in a note.

The biggest gainer on the NASDAQ was Netflix Inc (NASDAQ:NFLX), which surged 3.94 or 4.15% to 98.89, ending a seven-day losing streak.

All 10 sectors in the S&P 500 closed lower, led by a almost 2 percent decline in energy stocks.

The Dow fell 239.11 points, or 1.5 percent, to 16,253.57. Goldman Sachs (NYSE:GS) ended the session as the only Dow component to close in the green.

Benchmark U.S. crude oil was down 1.4% to $45.40 a barrel in electronic trading on the New York Mercantile Exchange.

Prices for USA exports also fell 1.4 percent in August, exceeding market consensus of a 0.4-percent decline. But consumer prices rose 2% or above views for a 1.8% gain.