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A dramatic escalation of the trade war between the United States and China sparked a worldwide sell-off in markets on Monday. 

U.S. stocks turned higher Wednesday afternoon as investors shook off early jitters that had briefly pulled the Dow Jones Industrial Average down more than 580 points.

The rally, which pushed the Dow Jones Industrial Average up by more than 370 points, followed an early rise in bonds yields after a weekly government report on unemployment claims came in better than economists had expected.