Major indexes in Asia and Europe sank Tuesday and US markets started sharply lower, zigzagging between gains and losses.
The pan-European FTSEurofirst 300 index rose 2.02 percent and MSCI's gauge of stocks across the globe gained 0.06 percent.
"I actually think stocks just got a lot more attractive", Thompson said.
After a muted open, major indices were in the red most of the day, suffering a major bout of weakness in late morning and another round of selling late in the afternoon.
A hint of rising inflation and rising rates last week was all it took to set off a cascade of investor angst.
After huge gains in the first weeks of this year, stocks tumbled after the Labour Department said workers' wages grew at a fast rate in January.
That usually means that the Federal Reserve will start increasing interest rates.
The 10-year notes last rose 38/32 in price to yield 2.7093 percent, down from 2.852 percent late on Friday.
A wild session on Tuesday saw the Dow Jones Industrial Average swing more than 1,100 points from peak to trough and ended with the benchmark S&P 500 tallying its best day since just before President Donald Trump's election in 2016. Boeing, Goldman Sachs and Home Depot took some of the worst losses.
The dollar index rose 0.84 percent, with the euro down 0.03 percent to $1.2258.
The Standard & Poor's 500 index, the benchmark most professional investors and many index funds use, sank 4.1 percent, to 2,648.94. The Dow is up 24 percent over that time, the S&P 500 18 percent. The Nasdaq composite added 83 points, or 1.2 percent, to 6,861.
Peter Kenny, independent market strategist, said large investors probably led the rebound as they picked up beaten-down stocks when the Dow entered correction.
US equity indexes climbed higher after a rocky start, and the benchmark gauge for USA share volatility reversed course after hitting a two-year high.
'While rising oil prices and hard landing concerns around China have failed to spook markets, fears that rising inflation may force policymakers into hiking rates quicker than predicted seems to have triggered the recent panic, ' he says. Tokyo's Nikkei 225 lost 2.3 percent and Hong Kong's Hang Seng gave up 3.1 percent.
In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.2 percent.
The gains across the pond, however, did not spread to Asian markets, with the majority posting losses. The Nasdaq slumped nearly 1%, while the S&P 500 fell modestly. Asia's bid for a recovery faltered late in that session, with the MSCI Asia Pacific Index nearly completely erasing a gain of as much as 2.4 percent. "The mystery now is what level on the 10-year Treasury will, if not break the bull market's back, at least knock it back a few steps".
Hong Kong bus crash kills 18 and injures scores
Rescuers tried to reach passengers trapped in the wreckage although police were unable to say how many were still inside. In 2008, a speeding bus careered out of control at a Sai Kung roundabout, leaving 18 people dead and 44 injured.