Why the Dow Index was so volatile on 10 March is there scope for further correction in the US markets?

Dow Jones was extremely volatile on 10 March 2020. The Dow Jones started trading on Tuesday nearly 1000 points but the pressures of an economic slowdown were too strong and the Dow had given up nearly 90% of its early gains. However, the Dow eventually closed nearly 5% higher. The big boost to the markets came after Trump urged the US Fed to be more aggressive on rate cuts. In fact, Trump even agreed to further tax cuts to boost growth. However, the Fed may not have much leeway after cutting rates by 50 bps in the first week of March. US markets have been under pressure due to the spiralling oil war as well as the global economic slowdown triggered by the Chinese Coronavirus. The bounce was largely on hope and it remains to be seen if the bounce can be sustained. A lot will depend on China.