U.S. stock indexes soared on Monday triggered by bargain hunting and on reassurances by global central banks that they stood ready to mitigate the economic impact of the coronavirus outbreak.
Technology stocks have been the biggest boost to the S&P 500, with Apple climbing 6.2 percent as it rebounded from a more than two-month low.
At 13:07 p.m. ET, the Dow Jones Industrial Average increased by 730.64 points, or 2.88 percent, at 26,140.00, the S&P 500 grew 75.68 points, or 2.56 percent, at 3,029.90, while the Nasdaq Composite traded higher by 218.14 points, or 2.55 percent, at 8,785.51.
Wall Street had experienced its biggest weekly fall since the 2008 financial crisis, diving into correction territory on Thursday over concerns of a recession resulting from the coronavirus epidemic.
Source: Reuters
