Dow rebounds with biggest 1-day point-gain ever

The Dow Jones Industrial Average closed up 1,293 points, or 5.1 percent, on Monday, rebounding from a slump stemming from coronavirus fears. It was the Dow’s biggest one-day point gain of all time and its biggest percentage gain since 2009.

The rise comes “on hopes that central banks will take action to shelter the global economy” from the coronavirus’ effects, The Associated Press reports.

The Nasdaq Composite also rose 384 points, or 8.5 percent, and the S&P 500 rose 135 points, or 4.6 percent.

Last week was the Dow’s worst since the 2008 financial crisis with a loss of more than 3,000 points. U.S. stock index futures surged further early Tuesday.

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