Wednesday's share market recovered some of the ground it lost in yesterday's freefall, following a decision by the US Federal Reserve to slash interest rates a further three quarters of a percent.
The benchmark S&P/ASX 200 index reached as much as 6.8% to 5540.70 before retreating back to 5412.30, an increase of 4.35% on yesterday's close.
Similarly, the broader All Ordinaries Index moved up 4.28% to 5445.60 from a low of 5,222.00.
According the Bloomberg, today's u-turn ended the longest sell-off since a 13-day decline in January 1982, the year Australia entered a recession.
Miners BHP Billiton ended the day $3.04 up at $34.04, while Rio Tinto rose $4 to $105.
Major banks also recovered with Commonwealth Bank of Australia adding 81 cents to $49.66, ANZ rose 82 cents to $25.17 and Westpac grew 64 cents to $25.14. National Australian Bank slid 49 cents to $32.41.
