U.S. stocks

The declines Wednesday were led by energy stocks as the price of crude oil fell sharply.

Traders also worried that a report showing that the number of available jobs soared in July could help convince Federal Reserve policymakers to raise interest rates later this month.

The Dow Jones industrial average lost 239 points, or 1.5 percent, to 16,253.

There was also some deal news for investors to focus on. Trading was closed in the U.S. on Monday in observance of the Labor Day holiday.

KEEPING SCORE: The Standard & Poor's 500 index rose 30 points, or 1.6 percent, to 1,952 as of 10:03 a.m. Eastern. The Dow Jones industrial average climbed 279 points, or 1.7 percent, to 16,381. The Nasdaq composite gained 88 points, or 1.91 percent, to 4,771.

The market still has a lot of ground to make up following last week's major declines.

The Dow Jones industrial average added 293.03 points, or 1.8 percent, to 16,351.38. That index fell more than 470 points the day before. The Standard & Poor's 500 rose 35.01 points, or 1.8 percent, to 1,948.86 and the Nasdaq composite rose 113.87 points, or 2.5 percent, 4,749.98.

Stocks fell heavily in the first two days of trading this week on concerns about the health of China's economy. The market then rebounded over the next two days as investors decided the sell-off was overdone.

The Dow Jones industrial average fell 52 points, or 0.3 percent, to 16,595 as of 12:07 p.m. Eastern time Friday.

European stocks fell in early trading, with France's CAC 40 down 0.5 percent at 4,636.26 and Germany's DAX 0.9 percent lower at 10,219.43. Britain's FTSE 100 slipped 0.1 percent to 6,1845.64.

U.S. stocks were poised to open lower, with Dow futures down 1 percent to 16,493.00 while S&P 500 futures retreated 0.9 percent to 1,970.60.

However, the major stock indexes gave up a large part of their early gains with less than an hour to go of regular trading, reminding investors that the markets remain volatile.

Investors were encouraged by a surge in the Chinese stock market as the nation's main index logged its biggest gain in eight weeks. In the U.S., a report showed that the economy expanded at a much faster pace than previously estimated in the second quarter.

Energy stocks were among the biggest gainers as oil climbed back above $40 a barrel.

For most of the day, it appeared that the market had shaken off some of its worries about the slowdown in China, and at one point the Dow was up by as much as 441. But then sell orders began pouring in in the last 15 minutes of trading.

The Dow ended the day with a loss of 204.91 points, or 1.3 percent, at 15,666.44. The Standard & Poor's 500 index fell 25.59 points, or 1.4 percent, to 1,867.62. The Nasdaq composite declined 19.76 points, or 0.4 percent, to 4,506.49.

The Dow Jones industrial average rose 296 points, or 1.9 percent, to 16,180.61, as of 9:45 a.m. Eastern time. The Standard & Poor's 500 index climbed 38 points, or 2 percent, to 1,932. The Nasdaq composite rose 109 points, or 2.4 percent, to 4,635.

Oil prices are up, but U.S. crude is still trading below $40 a barrel.

Treasury notes are falling, pushing up the yield on the 10-year benchmark not to 2.08 percent.

The Dow Jones industrial average fell 152 points, or 0.9 percent, to 17,363 as of 9:35 a.m. Eastern time Wednesday. The Standard & Poor's 500 index slipped 14 points, or 0.7 percent, to 2,082. The Nasdaq composite slid 33 points, or 0.7 percent, to 5,025.

Bond prices fell, pushing up the yield on the 10-year Treasury note to 2.22 percent.