Update: China rebounds sharply, S&P 500 sees best day since 2011

During trading on Wednesday the S&P 500 rose 3.9%, marking its best day since November 2011, while the Dow Jones jumped 4% higher. Analysts have attributed the sharp rises to comments made by the president of the New York branch of the Federal Reserve, William Dudley, who said a rate hike in September is now less likely. In Asia, Chinese stocks rebounded sharply following days of falls, with the Shanghai Composite closing 5.3% higher at 3,084. Hong Kong's Hang Seng index was 3.3% up at 21,778. Fed's Dudley: September rate hike 'less compelling' The UK market followed suit, openin...