US STOCKS-Wall St posts biggest rally of the year
* China cuts interest rate for second time in two months
* Oil prices rebound but still near 6-1/2-year lows
* Apple up 5.5 pct, BofA leads banks higher
* Indexes up: Dow 2.26 pct, S&P 2.34 pct, Nasdaq 3.34 pct (Adds details, updates prices)
By Tanya Agrawal
Aug 25 (Reuters) - Wall Street posted its sharpest rally of the year on Tuesday, as investors snapped up beaten-down stocks a day after the market's worst performance in four years on fears about China's economy.
Financial markets also got a boost from China's second interest rate cut in two months.
The Nasdaq composite index led stocks higher with a 3.3 percent rise, boosted by Apple's 5.5 percent jump to $108.86.
The stock slumped as much as 13 percent on Monday, when the Dow Jones industrial average fell more than 1,000 points in its biggest intraday fall ever and the S&P 500 recorded its worst day since 2011. Continuación...