Dow gains more than 600 points as wild stock market volatility continues

The stock market's volatility is showing no signs of letting up. US equities are rallying on Thursday, attempting to rebound from the prior two days of steep losses.

All three major indexes are in green and then some: The Dow (INDU) is up nearly 700 points, or 2%, in late afternoon trading, while the broader S&P 500 (SPX) is up 1.6%. The tech-heavy Nasdaq Composite (COMP) is lagging behind slightly, up "only" 0.7%.

The rocky ride in the market started last week Friday when concerns about the newly identified Omicron variant spooked investors, inciting memories of the highly infectious Delta variant, which weighed on the recovery over the summer.