The Dow rallies more than 600 points after last week's coronavirus-linked losses
Stocks are coming off their worst week since the 2008 financial crisis. The Dow last week dropped 12.4%, while the S&P 500 plunged 11.5%.The Dow also recorded its worst one-day point drop in history on Thursday.But the rebound was strong on Monday. After a sharply higher open and some flipping between gains and losses mid-morning, stocks moved solidly higher.The Dow was up 800 points, or 3.2%, while the S&P climbed 2.9% around midday.
The Federal Reserve next meets on March 18 and market expectations for a half-percentage point interest rate cut are at 100%, according to the CME's FedWatch Tool.That said, Fed officials have been speaking out against immediate rate cuts and Fed Chairman Jerome Powell said last week that"the fundamentals of the US economy remain strong.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow futures drop as coronavirus fears continueStock futures have plummeted — a sign that the markets may be in for another rough week as fears about the novel coronavirus outbreak continue to mount.
Read more »
Coronavirus weighs on South Korea February trade; ministry says worse to comeSouth Korean exports snapped a 14-month losing streak in February thanks to more...
Read more »
NBC News @NBCNewsLIVE: Dow opens Monday morning trading after dropping more than 3,500 points last week amid global coronavirus concerns.
Read more »
Amy Childs lost two stone in six months transformation after losing confidenceAmy Childs shared she has lost two stone in just six months which has given her a confident boost while she looks for love on Celebs Go Dating
Read more »