egmat
Hi there,
Choice C cannot be the correct answer because "between... to..." is an incorrect idiom. The correct idiom is "from... to...". Hence choice C is out.
Now, grammatically two choices come very close - choice D and E. But
Choice D wins because of the usage of correct verb tense "has bounced". Notice the verb tense of the Independent Clause. It says, "US familiers ARE STILL REELING". This is a present continuous tense. Present perferct "has bounced" maintains the consistency of the tenses in the sentence.
Choice E fails to do so by using simple past tense "bounced". Hence choice D is the correct answer.
Hope this helps.

Thanks.
Shraddha
But bounced back is a one time action
neither this action continues nor its effect
and that the people are still reeling is a fact that is influenced by recession and not by the bouncing back of the market
Therefore I am not convinced
Please reply.