Nasdaq rises 1%, Dow adds nearly 200 points in late-day rally; European stocks close lower as markets grapple with recession fears; Deutsche Bank down 12% 
Stocks climbed in a late-day rally as bond yields slipped, and Wall Street continued to weigh recession risks. 
The Dow Jones Industrial Average rose 194.23 points, or 0.64%, to 30,677.36. The S&P 500 gained 0.95% to 3,795.73. The Nasdaq Composite rose 1.62% to 11,232.19. 
A peek into the broader market index showed more defensive stocks such as consumer staples, utilities, real estate and health-care stocks drove outperformance, with each sector up about 2%. Consumer staples stocks such as Clorox gained 6%. 
Homebuilders helped buoy consumer cyclicals, as shares of Lennar and D.R. Horton on Thursday both climbed 4.5% and 5.2%, respectively. 
Meanwhile, energy was the worst performing sector in the S&P 500 as oil prices took a hit. Shares of Schlumberger dropped nearly 6.8%. Valero Energy fell 7.6% and Phillips 66 declined about 6.8%. 

The pan-European Stoxx 600 closed 0.8% lower, with autos slumping 3.6% to lead the losses as most sectors and major bourses slipped into the red. 
In terms of individual share price movement, Deutsche Bank and Commerzbank led a broad slump in bank shares, each slipping around 12%. 
French IT company Atos jumped more than 6% after a French media report that the government would support a possible merger with compatriot aerospace firm Thales. 
Aroundtown fell nearly 7% after JPMorgan downgraded the real estate company’s stock to “underweight” and cut its target price. 
Source: CNBC, Investing.com