Updated Mar 2, 2020 - Economy & Business

Stocks jump more than 4% after last week's sell-off

Traders work on the floor of the New York Stock Exchange (NYSE) on March 2 in New York City.
Traders work on the floor of the NYSE. Photo: Spencer Platt/Getty Images

Stocks closed up more than 4% on Monday, rebounding from Wall Street's worst week since the financial crisis. The S&P 500 is 8% below its record high, moving out of correction territory.

The big picture: The gains come despite more news of the coronavirus outbreak spreading in the U.S. and around the globe. Central banks, including the Federal Reserve, indicated willingness to step in to soften the blow of any coronavirus impact to the global economy.

By the numbers: The S&P 500 and the Nasdaq Composite rose 4.6% and 4.4%, respectively. The Dow Jones Industrials Average rose 1,293 points, or 5%.

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