US and Chinese stocks rebound

Global stocks put up mixed performances on Thursday.

The S&P 500 jumped 1.7 percent while the Shanghai Composite Index rebounded from an early plunge to finish 2.0 percent higher.

However, the STOXX Europe 600 fell 1.5 percent and the Nikkei 225 plunged 2.7 percent.

Indeed, a CNBC report warned that the selling may not be over.

"We are saying this is a low, but not the low, so we would be very selective about what stocks to buy for a tradable rally," said Ari Wald, technical strategist at Oppenheimer Asset Management. "We do expect lower lows over the coming months."

Scott Redler, partner at T3Live.com, said: "I would not say this is the low of the year, but I would hope this is the low of January."