Wall Street rebounds as investors buy the dip; stimulus measures in focus

U.S. stock indexes rose sharply on Monday, prompted by bargain hunting and on reassurances by central banks that they stood ready to counter any economic impact from the coronavirus. Technology stocks were the biggest boost to the S&P 500, with Apple Inc jumping 6.2% as it recovered from a more than two-month low. All three indexes were set for their best day in nearly two months in volatile trading. At 13:07 p.m. ET, the Dow Jones Industrial Average was up 730.64 points, or 2.88%, at 26,140.00, the S&P 500 was up 75.68 points, or 2.56%, at 3,029.90. The Nasdaq Composite was up 218.14 points, or 2.55%, at 8,785.51. Wall Street had marked its biggest weekly decline since the 2008 financial crisis, sinking into correction territory on Thursday amid fears of a recession resulting from the epidemic.