TOKYO (AP) -- European stock markets are on a roll, mirroring yesterday's stunning comeback on Wall Street.

Markets are up in Britain, Germany and France, as were most Asian indexes earlier. Today's gains have helped erase steep losses earlier in the week fanned by fears of a U.S. recession.

Despite some ups and downs today in Hong Kong and India, investors seem generally encouraged by the remarkable comeback on Wall Street. The Dow's 632-point turnaround was the largest for a single day in more than five years. It finished the day with a 299-point gain.

The huge swing reflects the intense volatility that has gripped global markets amid investor uncertainty. Indicators point to another bumpy ride today. The Dow futures and the Standard and Poors 500 index are both down a fraction of a percent.