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The 4.6% plunge was the index’s worst day since August 2011 and knocked it into the red for the year.With Tuesday’s bounce, the Dow recovered about half the losses from the day before. It’s about 6% off its all time high.David Kotok, co founder of Cumberland Advisors, called it a “wild rollercoaster ride.” He said that when Dow futures plunged 1,000 points overnight, it amounted to “climactic panic selling” that could signal a bottom for the market.On Capitol Hill, Treasury Secretary Steven Mnuchin reminded lawmakers that the stock market is up 30% since President Trump’s election. He said the administration is focused on recently enacted policies like tax cuts as a driver of economic growth in the long run.”The stock market has been functioning very well, and we continue to believe in the long term impact of the stock market,” Mnuchin said before the House Financial Services Committee.Related: Market fear is back in a big wayThe tremors on Wall Street spread around the globe.

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