In Japan, further evidence that the Japanese government would help bail out the country's banks seemed to jump-start a rally. The Nikkei shot up more than 443 points Tuesday. Adding this 2.7 percent to Monday's 8 percent rebound made it two in a row for Tokyo.
But over in Hong Kong, a rise in interbank interest rates prompted Far East investors to take some of their cash off the table. The Hang Seng fell 1.7 percent after three winning sessions in a row.
Confused news from Asia made for more rollercoaster rides in Europe. The German DAX, cheered by the news from Japan, ended up; London, however, was dragged down due, apparently, to excess exposure to Hong Kong. As if the loss of the former colony wasn't enough.