US: Dow ends up 5.1% as stocks bounce back after rout

📆 03-03-20 04:07:00
📰 BusinessTimes

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[NEW YORK] Wall Street stocks surged on Monday, staging a dramatic comeback after an historically bad week as markets cheered news that global finance heavyweights plan a coordinated response to the coronavirus epidemic. Read more at The Business Times.

US stocks were in the green most of the day, but trading was hesitant in stretches, in the wake of news of the first confirmed case in New York city.

"It's been an extremely oversold market and there's expectations for all kinds of fiscal and monetary easing," said Karl Haeling of LBBW. A US survey of manufacturers released Monday showed weaker than expected activity due to coronavirus, with more impact expected.

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