US markets have opened higher after a calmer atmosphere saw the FTSE 100 recover the day's losses.
The S&P was up 1.6% at 1,137 shortly after the open, a day after it closed down some 6.66%.
Other major US indices mirrored the S&P's rise, with the Dow Jones industrial average up by 1.8%, or 194 points, to 11,004. The Nasdaq was 1.3% higher at 2,087.
The FTSE was 0.5% higher at 5,098 shortly after the US opening bell, having earlier returned to parity after it lost 5% of its value in early trading.
Commodity prices have also recovered in line with equities, with Brent crude rising by 0.3% to $104 a barrel after it dipped below $100 for the first time in six months.
Ten-year treasury yields have risen from 2.31% to 2.36%, but the dollar has continued to hit record lows against the Swiss franc, falling below 0.74 francs for the first time.
Gold earlier reached another record high of $1,778 before falling back to below $1,740, as the markets continue to await the outcome of today's monthly meeting of the Federal Reserve's Open Market Committee.
The Fed is expected to issue a statement at 7:15pm GMT, with many market participants looking for the central bank to reaffirm its commitment to monetary stimulus measures.
Consultation closes 28 January
SLA's share price has almost halved since merger
Three shifts in sector
Takeover rumours continue
Raised £116m in total