GLOBAL MARKETS-Wall Street ends down after China rate cut fails to calm nerves
(Refiles to fix duplicated word in paragraph one)
* Wall Street falls in late selloff
* Relief from China cut in rates, reserve requirements temporary
* European shares finish higher, dollar rises, oil rebounds
* Volatility index down from Monday but still elevated
By Sinead Carew
NEW YORK, Aug 25 (Reuters) - U.S. stocks ended down on Tuesday after sharply reversing early gains late in the session as investors were unconvinced China's move to cut interest rates and banks' reserve requirements could ease global growth concerns.
The dollar also gave up much of its gains from earlier in the day. Wall Street trading was volatile and the S&P 500 ended down 1.4 percent after a late selloff following a gain of as much as 2.9 percent earlier in the day.
Global stocks, oil and currencies initially appeared to recover after markets were pummeled on Monday when Chinese shares fell almost 9 percent. Beijing heeded investor calls for intervention after the Shanghai Composite Index slumped again on Tuesday, but the index still ended down 7.6 percent. Continued...