U.S. stocks closed sharply higher Tuesday in a wild day for traders after Federal Reserve Jerome Powell warned that the central bank may need to keep raising interest rates to keep inflation heading lower. The Dow Jones Industrial Average rose about 265 points, or 0.8%, ending near 34,156, after sinking as low as 33,634.10 earlier in the session. That ended three sessions in a row of declines, according to Dow Jones Market Data. The S&P 500 index gained 1.3%, while the Nasdaq Composite Index [s: