Stocks higher in volatile trade after stocks fall in Asia, Europe

Staff and wire reports
NEW YORK — Stocks pulled well off their lows Tuesday as the financial sector partially recovered from Wall Street's worst session in years and as investors grew hopeful about a Federal Reserve interest rate cut. The Dow Jones industrial average traded in a wide range, sometimes dropping more than 100, sometimes up nearly 100.
Worries about AIG's well-being have intensified after several ratings agencies reduced their ratings on the company. Lower ratings can add to the amount of money the already cash-strapped company has to set aside. Investors are fearful that a failure by the world's largest insurer would touch off a wave of financial turmoil. AIG fell.

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