Dow rallies as stock market attempts to recover from worst week since financial crisis

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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