(CNBC) — U.S. stocks closed down on Wednesday but recovered significantly from historic intraday losses amid concerns about Europe, Ebola and the economy.
The Russell 2000 and transports turned positive as stocks came off lows in the last half hour before the close. S&P 400 midcaps also traded higher, and the Nasdaq traded briefly in the green.
"The Russell 2000 led the selloff and is actually the first to find the bottom here," Art Hogan, chief market strategist at Wunderlich Securities, said.
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He also attributed the late-session gains to stabilization in oil prices and high trade volume during the middle of the day.
