The Dow Jones Industrial Average decreased 129.44 points, or 0.42 percent, to 30,967.82. The S&P 500 rose 6.06 points, or 0.16 percent, to 3,831.39. The Nasdaq Composite Index increased 194.39 points, or 1.75 percent, to 11,322.24.
Market moves were wild as investor sentiment remained shaky. Earlier in the day, all the three major indexes traded sharply lower with the Dow dropping more than 700 points at session lows.
Eight of the 11 primary S&P 500 sectors ended in red, with energy and utilities down 4.01 percent and 3.43 percent, respectively, leading the laggards. Communication services climbed 2.67 percent, the best-performing group.
Recession risk in the wake of elevated inflation and aggressive Fed policy tightening continues to be a key theme.
An inverted U.S. yield curve caught investors' attention as the 2-year U.S. Treasury yield ticked above the 10-year yield on Tuesday.
That the inverted yield curve short-term interest rates are higher than long-term rates is viewed by many as a harbinger of slower economic growth, or even a recession.
Investors are also anticipating a slew of economic highlights later this week, including the Fed's meeting minutes on Wednesday and the June U.S. jobs report on Friday.
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