Stocks on Wall Street are gaining after an early morning slump, a day after the market’s worst performance in a month.

The S&P 500 rose 0.3 percent, or 17 points, as of 10:58 a.m. Eastern time on Wednesday after falling 2.1 percent the day before. The Dow Jones Industrial Average rose 186 points, or 0.5 percent, while the tech-heavy Nasdaq Composite gained 0.4 percent.

Stocks around the world plunged on Wednesday after Wall Street suffered its worst day since early August. The biggest stock in the S&P 500, Nvidia, lost 9.5 percent in early morning trading, leading to a decline in chip stocks worldwide. Investors concerned about the strength of the U.S. economy will be closely watching the latest job openings update from the Labor Department.

“Investor concerns about the health of the U.S. economy have intensified again, contributing to a sell-off in global equity markets,” Shivaan Tandon, market economist at Capital Economics, said in an analysis on Wednesday. “Technology stocks appear to have been hit the hardest,” he added.

Nvidia stock is struggling even after the AI ​​chip company beat lofty expectations in its latest earnings report. The muted performance may reinforce criticism that Nvidia and other Big Tech stocks were simply overvalued and ran too high amid Wall Street enthusiasm around artificial intelligence technology.

Rising oil supplies also pushed down prices as Libya moved closer to resolving the conflict over control of the country’s oil revenues, making it possible to expand the country’s oil production soon.

The US benchmark price for crude oil fell by 57 cents to $69.77 per barrel. The international standard for Brent crude oil lost 75 cents and was at $73.00 per barrel.

The S&P 500 fell 2.1 percent, giving up much of the gains from a three-week winning streak that had brought it to the brink of its all-time high. The Dow Jones Industrial Average lost 626 points, or 1.5 percent, from its own record set on the Friday before Labor Day on Monday. The Nasdaq Composite fell 3.3 percent as Nvidia and other Big Tech stocks led the decline.

US Treasury yields also weakened in the bond market after a report showed that American industrial production contracted again in August, suffering under the burden of high interest rates. Industrial production has been declining for most of the past two years, and its performance in August was worse than economists expected.

“Demand remains subdued as companies are reluctant to invest in capital and inventories due to the federal government’s current monetary policy and election uncertainty,” said Timothy Fiore, chairman of the Institute for Supply Management’s manufacturing survey committee.

Other reports due later this week could show how much help the economy needs. They include updates on the number of job openings U.S. employers posted at the end of July and how much U.S. services companies grew in August.

Wall Street analysts expect solid employment numbers for August when the U.S. Labor Department releases its monthly employment data on Friday, which they say should allay renewed concerns about a hard landing.

“We forecast nonfarm payrolls to rise by a solid 200,000 in August,” said US economists Shruti Mishra and Aditya Bhave of Bank of America in a note. “The labor market is easing, but slowly.”

Nevertheless, analysts do not rule out continued volatility, a hallmark of September.

“September has historically been a month of poor returns, suggesting that seasonality may be playing a role in the negative sentiment,” said Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management, in a research note. “The S&P 500 has declined in September for the past four years and seven of the past 10 years.”

Overall, the S&P 500 fell 119.47 points to 5,528.93 on Tuesday. The Dow lost 626.15 points to 40,936.93 and the Nasdaq Composite fell 577.33 to 17,136.30.

In the bond market, the yield on 10-year US Treasury bonds fell from 3.91 percent late Friday to 3.84 percent. At the end of April it was still at 4.70 percent, which represents a significant movement for the bond market.