Wall Street Volatility Ongoing Despite Positive Signs

The volatility is continuing on Wall Street as concerns over China's economy remain.

U.S. stocks plunged Tuesday, with the Dow Jones industrial average losing almost 470 points for the third worst drop of the year.

All three major U.S. stock indices fell briefly into correction territory last week, and now they're back in that zone, down by about 10 percent from their highs.

Over in China, stocks bounced back after some sharp losses Wednesday.

The big ups and downs are likely to continue in the United States as well, even as positive economic news keeps coming in.

The private payroll processor ADP reports U.S. businesses added jobs at a steady pace last month, with construction and manufacturing showing solid gains.

Businesses added 190,000 jobs last month, up from 177,000 in July, suggesting that turmoil in the financial markets and worries about faltering growth in China have not yet had much impact on the U.S. job market.

The Labor Department said worker productivity increased at an annual rate of 3.3 percent in the April-June quarter.