Stocks surged Thursday, with the Dow Jones Industrial Average closing up more than 400 points after stocks jumped in the final hours of trading on Wall Street.

Stocks briefly crossed the 500-point mark before settling downward ahead of the closing bell.

The Dow closed up 423.37, or 3.95 percent, to close at 11,143.31. The S&P 500 index closed up 51.88 points, or 4.63 percent, and the Nasdaq Composite closed up 4.69 percent at 111.63 points.

Thursday’s gains in the Dow come after Wednesday’s 519.83 drop, the ninth-worst day in the history of the exchange.