Stocks surged midday Monday, attempting to rebound after major benchmarks suffered the worst week of losses since the 2008 financial crisis — a decline blamed largely on worries surrounding the spread of COVID-19.
How are major benchmarks faring?
The Dow Jones Industrial Average DJIA, +2.56% was last trading 632 points, or 2.5%, at 26,039, but had been up by as many as 815 points at an intraday peak at 26,224.37.
The S&P 500 SPX, +2.04% was 60 points, or 2.1%, to trade at 3,015, while the Nasdaq Composite COMP, +2.00% added 186 points, or 2.2%, to trade at 8,755.
Last week, the Dow fell 12.4%, the S&P 500 lost 11.5% and the Nasdaq shed 10.5%, representing their worst weekly skids since 2008. A higher finish for the S&P 500 and Dow on Monday would snap a seven-session losing streak.
All three equity indexes fell into correction territory, widely defined as a drop of at least 10%, but less than 20%, from a recent peak, as fears of the spreading coronavirus outbreak rattled investors.
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https://www.marketwatch.com/story/us-stock-futures-sink-suggesting-the-worst-isnt-over-for-wall-street-2020-03-01
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