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Oil prices dropped to $135.88 per barrel on the New York Mercantile Exchange.

By close Tuesday, the Dow Jones industrial average was up 152.25 points to 11,384.21, up 1.36 percent. The Standard and Poor's 500 index rose 21.39 points to 1,273.70, up 1.71 percent. The Nasdaq composite index rose 51.10 points to 2,294.42, up 2.28 percent.

On the New York Stock Exchange, 2,147 stocks advanced and 1,032 declined on a volume of 1.725 billion shares traded.

The 10-year U.S. Treasury note rose 6/32 to yield 3.886 percent.

The euro traded at $1.5657 from Monday's $1.5719, while the dollar traded at 107.52 yen from Monday's 107.15 yen.

In Tokyo, the Nikkei index lost 326.94 points to 13,033.10, off 2.45 percent.

In London, the FTSE 100 index fell 72.20 to 5,440.50, off 1.31 percent.