The Nasdaq stayed weaker but ended well off the day's lows.

Oil prices LCOc1 CLc1 snapped a two-day rout as investors took advantage of a weaker U.S. dollar. Comments by Russia's foreign minister reignited hopes of a deal among oil producers to trim output. The energy index .SPNY jumped 4 percent.

"What (markets) are keying off of is the move in commodities and in the dollar," said Walter Todd, chief investment officer at Greenwood Capital Associates in Greenwood, South Carolina. "That is driving the rotation in the equity market out of momentum names into commodity-based names."

Alphabet (GOOGL.O) shares tumbled 4 percent to $749.38 and the company moved back below Apple (AAPL.O) in market capitalization. Apple, the world's most valuable company, rose 2 percent at $96.35.