Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE). Drew Angerer | Getty Images

Stocks attempted to rebound from their worst one-day rout since the financial crisis. Investors cheered news about potential fiscal stimulus to offset the slowdown from the coronavirus, but the lack of details capped the gains in the market. Here's what happened:

4:14 pm: Financials can grow despite low interest rates, Herro says

David Herro, chief investment officer for international equity at Harris Associates, said on "Closing Bell" that European banks have shown that financials can perform well despite low interest rates. "It's been a good test case. Europe has had negative interest rates in many of the developed countries in Europe, and yet banks like a BNP Paribas, like a Credit Suisse have been able to grow their earnings and book values per share over the last two or three years despite the low interest rates. It demonstrates that they have other levers to pull," Herro said. — Pound

4:01 pm: Stocks close at session highs, Dow up more than 1,100 points

The market's rebound gained steam in the last hour of trading. The Dow ended the wild session up about 1,164 points, after briefly turning negative in late-morning trading. Still, the 30-stock benchmark only regained about half of its losses in the previous session. The S&P 500 climbed 4.9% after suffering its worst day since the financial crisis. Tech and financials were the biggest winners on Tuesday, gaining more than 5% each. — Li

3:05 pm: Final hour of trading: Dow up more than 600 points

With roughly an hour left in the volatile session, the Dow was up about 665 points, making back less than half of Monday's deep losses. It's been a wild day for the blue-chip benchmark that swung about 1,100 points. The S&P 500 was last up 2.6%. Investors are waiting for more specifics from the Trump administration on stimulus measures. —Li

3:04 pm: Morningstar says market has 'gross overreaction' to coronavirus

Financial services firm Morningstar is out with a somewhat contrarian view on the coronavirus, calling it a "severe but manageable flu" and saying the market is guilty of a "gross overreaction." In a lengthy report, Morningstar analysts say the ultimate death rate of the virus will be much less than it appears now, and the longer-term global GDP impact is likely to be just 0.2%. The analysts do anticipate 200,000 U.S. deaths and 8 million globally. – Cox

3:02 pm: Oil jumps more than 10%

Oil prices surged on Tuesday, one day after plunging 24% for the worst daily performance in nearly three decades. International benchmark Brent crude gained $2.86, or 8.3%, to settle at $37.22 per barrel, while U.S. West Texas Intermediate futures surged 10.38%, or $3.23, to settle at $34.36 per barrel. The jump came following reports that ongoing talks between OPEC and its allies, known as OPEC+, remain possible. Russia's energy ministry has proposed holding a meeting with Russian oil companies on Wednesday, Reuters reported, citing two unnamed sources.— Stevens

2:52 pm: Huge trading volume for SPY ETF

The SPDR S&P 500 ETF Trust (SPY), which tracks the broad market index, has seen massive trading volume on Tuesday, with more than 182 million shares exchanging hands. That's well above the 30-day average volume of 131.4 million. The above-trend volume comes during a day in which stock prices have fluctuated wildly as investors assess the prospects of fiscal stimulus to curb an economic slowdown. —Imbert

2:41 pm: Cruise stocks reverse losses

Volatile cruise stocks that were struggling earlier in the day have surged in afternoon trading. Royal Caribbean has risen 6.3% to $51.29 per share after being down as much as 16.7% for the day. Carnival has gained 8.8% for the day after being down 7.6% shortly before noon. Norwegian is up just under 1% after falling 13.6% during the morning. — Pound

2:12 pm: Market's attempted rebound by the numbers

Major indexes have vacillated throughout the day, with the Dow up more than 900 points at its high. Currently major indexes are on pace to break 3-day losing streaks.

The Russell 2000 is underperforming, currently on pace for its 4th straight negative session.

Currently, DJ Utilities, NDX, NASDAQ, S&P, and Dow are in correction territory. The S&P 400 Midcaps, Russell 2000, and DJ Transports are in bear market territory.

All major indexes are currently below their 200-day moving average

All 11 sectors are in correction territory or worse, down more than 10% from their 52-week highs.

WTI and Brent are both on pace for their best day since Sept, 2019, up more than 7%. — Hayes

1:45 pm: Morgan Stanley employee tests positive for COVID-19

A Morgan Stanley employee based in Purchase, New York tested positive for the coronavirus, the Wall Street firm said in an email to its workers on Tuesday. "The employee was already self-quarantined for some time and is doing well and recovering at home." The company said it deep cleaned the Purchase office "although the likelihood of surface contamination was low." – Fitzgerald

1:31 pm: Bank of America slashes global growth again

Bank of America economists cut their view of global growth due to the impact of coronavirus. For the U.S., the firm now expects GDP to grow this year by 1.2% from 1.6%. That is based on close to zero growth in the second and third quarters. The bank cut Euro zone growth to 0.2% from 0.6% and now expects a technical recession in the region. "Globally we have cut growth from 2.8% to 2.2%. To put that in perspective, trend growth globally is about 3.5%. This is in spitting range of a typical global recession," the economists wrote. — Domm

1:19 pm: Banks not a point of concern in virus downturn, former Barclays CEO says

The U.S. banks will not be a major issue if the coronavirus outbreak disrupts the economy, former Barclays CEO Bob Diamond said on CNBC's "Halftime Report" Tuesday. President Donald Trump is expected to meet with Wall Street executives this week about the outbreak. "The U.S. banks are the healthiest in my career. They weren't in 2008. Today, they're healthy, capital levels are high, liquidity is robust," Diamond said. — Pound

1:01 pm: European stocks fade, close negative

Major European indexes reversed large gains at the end of the trading day to finish in the red. The Stoxx 600 finished with a loss of 0.88% after rising as much as 4.1%. The German Dax fell 1.4% after being up 3.8% at session highs. — Pound

12:05 pm: Occidental slashes dividend and capital spending

Occidental Petroleum said it will cut its quarterly dividend to $0.11 per share from $0.79 per share, effective July 2020. The company also announced it will reduce 2020 capital spending to between $3.5 billion and $3.7 billion from $5.2 billion to $5.4 billion. The moves are due to "the sharp decline in global commodity prices," the company said. Shares of Occidental were up 1.8% before trading was halted for news pending around midday. The stock tanked 53% on Monday. — Li

11:58 am: Dow flirts with bear market, down more than 19.8% from record

The Dow nearly crossed into bear market territory around 11:30 a.m. ET as its failed rebound attempt thrust the blue-chip index down 160 points to an intraday low of 23,690.34. The Dow would need to fall 196.164 points in Tuesday's session to enter bear market territory based on intraday moves and its all-time high of 29,568.57 notched on Feb. 12. It would need to fall 209.884 points and end the day at 23,641.14 or worse to close in a bear market. The S&P 500 and Nasdaq Composite are further from their respective bear markets, or decline of 20% or more from a recent high. — Franck

11:38 am: Energy sector turns negative as rally loses steam

The energy sector reversed a more than 8% gain to turn negative as the broader rally lost steam. Monday was the XLE's worst day on record. — Francolla, Stevens

11:26 am: Dow turns negative

Stocks surged higher at the open, but haven't been able to hold onto the gains. The Dow is now negative, after earlier rising 945 points. — Stevens

11:24 am: VIX still above 50

The Cboe Volatility Index, a measure of the 30-day implied volatility of the S&P 500 known as the "VIX" or the "fear gauge," dipped about 4% in late-morning trading Tuesday, but the gauge is still above the 50 threshold. During the S&P 500's worst one-day rout since 2008 on Monday, the VIX popped to 54.46, its highest level since November 2008.— Li

10:28 am: Here are Tuesday's biggest analyst calls of the day

Nomura Instinet initiated Qualcomm as buy

Stifel upgraded UPS to buy from hold

Deutsche Bank initiated a catalyst call buy idea on L Brands

Bernstein lowered its price target on Disney to $119 from $141

Cowen raised its price target on Amazon to $2,700 from $2,650

Loop lowered its price target on Alphabet to $1,320 from $1,450

Stephens named Wendy's a best idea

Goldman Sachs downgraded Carnival to neutral from buy

Oppenheimer upgraded Activision Blizzard to outperform from perform

Evercore ISI lowered its price target on Apple to $325 from $365 CNBC PRO subscribers can read more here. —Bloom

10:16 am: Trump lashes out at Federal Reserve once again

President Donald Trump again criticized the Federal Reserve and Chairman Jerome Powell, saying on Twitter that the central bank was "pathetic" and calling for a larger cut to the benchmark interest rate. The Fed already cut the Fed funds rate by 50 basis points in an emergency move earlier this month. —Pound Tweet

10 am: Stitch Fix plunges after disappointing earnings

While the broader market rebounds on Tuesday, shares of Stitch Fix plummeted nearly 30%. The personal styling service issued a bleak outlook and reported quarterly revenue that missed analysts' expectations. Stitch Fix reported sales of $451.8 million, below the forecast of $452.5 million, according to Refinitiv. Next quarter guidance is between $465 million and $475 million, while analysts had estimated about $506.2 million. Stitch Fix said its current customers are spending less per order, on average, resulting in lower order values than the company had projected. – Fitzgerald

9:50 am: Oil & Gas ETF jumps 21%

A day after oil suffered its worst loss since 1991, prices are bouncing back, sending oil stocks higher. The oil & gas ETF (XOP) is up 21% after losing 36.87% yesterday, and is currently on pace for its best day since Oct 13, 2008. - Francolla, Stevens

9:32 am: Stocks jump at the open, Dow surges more than 800 points

Stocks jumped at the open a day after posting the steepest declines since the financial crisis. The Dow Jones Industrial Average rose 831 points for a gain of 3.5%, while the S&P 500 and Nasdaq each rose 3.2%. The rise erases less than half of Monday's sharp losses, however. - Stevens

9:22 am: Fed pumps another $168 billion into financial system

The Federal Reserve's increased bank funding operations continue to see plenty of demand. Separate auctions Tuesday in the short-term lending market, or repo, saw a two-week offering massively oversubscribed, with $93 billion offered for a $45 billion operation. An overnight offering saw the New York Fed's trading desk fill $123.625 billion in bids. Earlier this week, the Fed increased the size of the offerings from $100 billion to at least $150 billion for overnight repo, and from $20 billion to at least $45 billion. The repo auctions involve financial institutions providing high-quality collateral for the short-term funding banks use for their operations. The Fed began conducting these repo operations after market tumult in September briefly sent short-term yields soaring. – Cox

9:12 am: Amazon up 3% as Cowen says shares can hit $2,700

Amazon shares gained 3% during premarket trading on Tuesday after Cowen raised its target on the stock to $2,700 from $2,650, implying a 50% rally ahead. The firm said that Amazon has "significant opportunity in existing and newer international markets," as well as "years of secular tailwinds" from its Amazon Web Services business. Cowen also reiterated its outperform rating. – Stevens

8:45 am: A White House economic response to coronavirus is 'not there' yet, officials say

Administration officials told CNBC that the White House was far from ready to unveil specific measures to curb slower economic growth because of the coronavirus. Some said they were stunned to hear President Donald Trump would hold a news conference on Tuesday to announce a plan when the details remain up in the air. Stock futures pared gains on the news. —Imbert

8:27 am: JPMorgan says recession risk is overblown

JPMorgan told clients on Tuesday that historically a market sell-off of this magnitude typically implies a 65% to 75% chance of recession in the next 12 months; however, stocks have priced in a worst-case scenario that has not yet come to fruition. "The market has gone ahead and priced in too severe of an adverse scenario, assuming we get timely and strong counter-policy response and a COVID-19 outbreak that peaks in the coming weeks," said JPMorgan's chief U.S. equity strategist Dubravko Lakos-Bujas. The firm said fiscal and monetary supports "should ultimately outlast the outbreak." JPMorgan reiterated its year end S&P 500 price target of 3,400. – Fitzgerald

8:18 am: American, Delta cut flights as coronavirus spreads

American and Delta Air Lines announced Tuesday that they are cutting flights as the coronavirus dents travel demand. American said it will reduce peak summer international flights by 10%, including a 55% slash to trans-Pacific flying. Delta said it's cutting "system capacity" by 15%. That includes a 20%-25% cut to overall international flights. American Airlines shares jumped more than 6% in the premarket while Delta climbed 4.6%. — Imbert

8:02 am: Dick's Sporting Goods shares jump after its decision to remove more guns

Dick's Sporting Goods said Tuesday it will pull guns from another 440 stores this year, building on its efforts after the deadly school shooting in Parkland, Fla., in 2018. Shares of the retailer soared 11% in premarket trading. The company also reported holiday-quarter earnings and sales that surpassed analysts' estimates. - Li

7:57 am: S&P 500 futures briefly hit 'limit up' prices

S&P 500 futures briefly traded 5% above the index's closing price on Monday to hit their so-called limit up prices. Price limits are implemented by the CME Group — where stock futures trade — as a way to cap upside or downside volatility. On Monday, S&P 500 futures reached their downside price limit in a historic sell-off sparked by coronavirus fears and an all-out oil price war between Russia and Saudi Arabia. —Imbert, Schacknow

7:52 am: Treasury yields rebound from record lows

Treasury yields rebounded sharply from their all-time lows as investors flocked to the stock market following its worst day since the financial crisis. The yield on the benchmark 10-year Treasury note jumped 22 basis points to around 0.722%. The benchmark rate tanked to a record low of 0.318% on Monday. The yield on the 30-year Treasury bond also climbed back above 1%, last trading at 1.222%. - Li

7:13 am: Stocks come roaring back to life