Bedugul Coffee: Morning Briefing: Wall Street recovers after historic falls

Highlights

U.S. stock markets bounced after a torrid opening, bargain-hunters and gains for Apple pushing the tech-heavy Nasdaq and the Dow Jones Industrial Average into positive territory after two days of heavy losses.

Some of the biggest U.S. investors believe the bond market has slipped into a bear phase. Others believe it has turned into one of the best buying opportunities in years.

Bitcoin briefly slid to below $6,000 to its lowest point so far this year in a sell-off that has seen the cryptocurrency lose more than half its value. Bitcoin has fallen heavily in recent sessions as a risk-off mood across markets, worries about a regulatory clampdown, and moves by banks to ban buying bitcoin on credit cards have rattled investors, pushing prices lower.

World

The United Nations called for an immediate humanitarian ceasefire in Syria of at least one month as heavy air strikes were reported to have killed at least 30 people in rebel-held areas near Damascus and in the northwest.

U.S. and Puerto Rico officials face a major problem after Hurricane Maria – about half of the island’s residents live in illegally built homes that aren’t up to code, making them more vulnerable to disasters.

Poland’s president said he will sign into law a bill imposing jail terms for suggesting the country was complicit in the Holocaust, defying criticism from Israel, the United States and activists.

Commentary: Unless something miraculous happens, the drought-hit city of Cape Town will become the first major city in which the taps literally run dry. But it's a cop-out to blame climate change for the looming Day Zero, writes William Saunderson-Meyer. Political blunders, dysfunction and "a stifling lack of pragmatism" by South Africa's ruling African National Congress lie "at the nub of the unfolding natural disaster."