U.S. stocks rallied late from big losses earlier in Monday's trading on Wall Street.

The Dow Jones Industrial Average, which lost more than 500 points earlier in the day, finished down 162.79 to 36,068.87.

The Standard & Poor's 500 Index declined 6.74 to 4,670.29.

The NASDAQ Composite Index moved into positive territory after a woeful start, gaining 6.93 to 14,942.83.