The S&P 500 and Nasdaq rose more than 3 percent in late morning trading on Thursday as the market rebounded from recent steep losses.

The Dow Jones industrial average <.DJI> was up 295.92 points, or 2.76 percent, at 11,015.86. The Standard & Poor's 500 Index <.SPX> was up 34.64 points, or 3.09 percent, at 1,155.40. The Nasdaq Composite Index <.IXIC> was up 81.24 points, or 3.41 percent, at 2,462.29.

(Reporting by Caroline Valetkevitch; Editing by Kenneth Barry)