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Wall Street mounted an impressive comeback on Monday, erasing the majority of a triple-digit selloff that had been fueled by another slide for the euro and reports of a massive insider-trading.

Today's Markets

The Dow Jones Industrial Average fell 24.97 points, or 0.22%, to 11178.58, the Standard & Poor's 500 dropped 1.89 points, 0.16%, to 1197.84 and the Nasdaq Composite rose 13.90 points, or 0.55%, to 2532.02. The FOX declined 0.91 points, or 0.11%, to 859.58.

The blue chips had been down nearly 150 points as reports of hedge funds being raided piled onto earlier worries about more trouble for the euro despite Ireland accepting a bailout were

“We don’t like to see our own kind investigated by the government,” Ben Willis, a trader at Sunrise Securities, told FOX Business. However, Willis acknowledged, “We’ve had a pretty nice recovery” from the day’s trading lows.

Anticipating earnings from tech heavyweight Hewlett-Packard (NYSE:HPQ), the Nasdaq Composite climbed out of the red and ended solidly higher. 

Still, the choppy day reflects Wall Street's continued focus on the relationship between the U.S. dollar and the euro and concerns that the Irish rescue won't solve all of Europe's sovereign debt issues. 

“It seems that the honeymoon for the periphery may end up even shorter than it was after the Greece package back in May, as markets are already turning their focus elsewhere, especially Portugal and Spain,” Win Thin, global head of emerging markets strategy at Brown Brothers Harriman, wrote in a note.

Only a handful of Dow stocks ended the day in positive territory, led by H-P and Boeing (NYSE:BA). The index's weakest members were financial giants Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM). 

Tech stocks helped spark the comeback on Wall Street. The group was buoyed by stronger-than-expected results from Tech Data (NASDAQ:TECD) and optimism before H-P's highly-anticipated quarterly results. H-P rallied around an upgrade from Wedbush Securities to "outperform" from "neutral."

Retailers like Macy's (NYSE:M) also advanced in response to signs holiday sales may exceed the markets' expectations. MasterCard Advisors' SpendingPulse indicated most categories showed mild to sharp sales gains during the first half of November, led by strength in apparel and luxury sales. 

Wall Street managed to mostly shrug off fears caused by a report in The Wall Street Journal saying the U.S. is in the midst of a widespread insider-trading probe that could be the biggest ever and is likely to rock the industry. Shares of Goldman Sachs (NYSE:GS) fell sharply as the paper said investigators are looking into whether or not Goldman bankers leaked info on deals that could benefit certain investors.   

Sources told FOX Business’s Charles Gasparino that the Justice Department’s probe is likely to take down as many as a dozen hedge funds and is part of an effort to fundamentally alter the massive hedge fund business.

“It’s painting a very negative picture on the financial sector,” said Nick  Kalivas, vice president of financial research at MF Global.

At the same time, Wall Street was held back by another selloff for the euro, which lost ground even after Ireland finally agreed to be rescued by its European Union partners. While the terms weren't disclosed, reports indicate debt-ridden Ireland will receive a loan package of about $110 billion, following in the footsteps of Greece earlier this year. 

The markets seem to be coming to the realization that the Irish bailout may not fix the similar debt problems in larger economies like Portugal and Spain. Underscoring those worries, the euro slid 0.66% to $1.3624. A stronger dollar is seen as bearish because it can make it tougher for companies to sell their products overseas. 

Dollar-traded commodities were also under pressure from the currency fluctuations. Crude oil fell 24 cents a barrel, or 0.29%, to $81.74. Economically-sensitive copper slid 2.18% to $3.7495 a pound. Gold gained $5.50 a troy ounce, or 0.41%, to $1,357.70.

Trading is expected to be light this week as U.S. markets are scheduled to be closed on Thursday in honor of Thanksgiving and then trade only half a day on Black Friday.

Corporate Movers

Novell (NASDAQ:NOVL) inked a $2.2 billion deal to be acquired by a consortium called Attachmate Corp. The $6.10-a-share purchase price places a 9.3% premium on the Friday share price of the enterprise software maker. It also represents a 28% premium on a rejected takeover bid from Elliott Associates in March. 

Tyson Foods (NYSE:TSN) solidly beat the Street with a non-GAAP profit of 64 cents a share. Analysts had called for EPS of just 56 cents. However, the largest American meat producer said its revenue increased by just 3.2% to $7.44 billion, trailing calls for $7.75 billion. 

Netflix (NASDAQ:NFLX) soared almost 9% to 52-week highs after the movie rental service unveiled a U.S. streaming only-plan and raised the price of its DVD/unlimited streaming plan by $1. The move should allow Netflix to continue shifting away from its DVD mail business.

Green Mountain Coffee (NASDAQ:GMCR) surged nearly 18% after the company said its financial reporting probe will result in a loss of just 4-5-cents a share cumulatively. Green Mountain also said the investigation did not implicate misconduct, raising hopes a separate Securities Exchange Commission probe will end favorably. Bank of America upped the stock to “buy” from “underperform” in response.

ExxonMobil (NYSE:XOM) inked a deal to unload nine of its Gulf of Mexico fields to Energy XXI (NASDAQ:EXXI) for $1.1 billion. The purchase of the shallow-water oil and natural gas fields will make Energy XXI the third-largest oil producer in the Gulf’s shallow waters.

Global Markets

The U.K.'s FTSE 100 slumped 0.91% to 5680.83, France's CAC 40 fell 1.07% to 3818.89 and Germany's DAX slipped 0.31% to 6822.05.

In Asia, Tokyo's Nikkei 225 rallied 0.9% to 10115.20, Hong Kong's Hang Seng lost 0.35% to 23524.00 and China's Shanghai Composite fell 0.15% to 2884.37.