Stocks rose sharply on Monday in volatile trading as Wall Street attempted to pare losses incurred during the worst week since the financial crisis amid fears of the coronavirus outbreak.
The Dow Jones Industrial Average traded 750 points higher, or 3%. The S&P 500 and the Nasdaq Composite climbed 2.8% each.
Stocks briefly came off their highs after a key measure on the U.S. manufacturing showed a slowdown last month. The ISM manufacturing index fell to 50.1 in February, the lowest level since the end of 2019. It also came below an estimate of 50.8.
Apple shares led the Dow higher with a 7% jump; Merck and Walmart gained 4.7% and 6.8%, respectively. Consumer staples, utilities and real estate were the best-performing S&P 500 sectors, advancing more than 3% each. Tech, meanwhile, jumped 3.6%.