Wall Street experienced a soaring rebound on Monday, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq all experiencing their highest one-day point gains in history.
The surge follows last week's losses, which occurred amid uncertainty over the impact of the spread of the coronavirus.
What are the details?
Fox Business reported that the Dow "rose over 1,294 points or 5 percent in what is the biggest point gain ever. Ditto for the S&P 500 and Nasdaq from a point gain of 136 and 384 points respectively."
The outlet noted that the Dow took a hit of more 3,500 points last week "amid coronavirus fears."
Investor fears appeared to subside Monday, as evidenced by the rally. CNN reported that "hopes for stimulus action from the world's central banks are keeping investors from further selling," pointing out, "The Bank of Japan said it would provide 'ample liquidity' to keep financial markets stable and the Bank of England also pledged to do what's necessary for the British economy's stability."
Meanwhile, President Donald Trump on Monday met with pharmaceutical executives at the White House, taking what ABC News called an "aggressive public posture" in addressing the spread of the new coronavirus, known as COVID-19.
"We've asked them to accelerate whatever they're doing in terms of the vaccine, absolutely," the president told reporters of the meeting in the Oval Office.
Charles Payne, an analyst for Fox Business, said last week that the market drop could also be partially blamed on fears that presidential candidate Sen. Bernie Sanders (I-Vt.) might win the Democratic nomination after the famous socialist took hold as front-runner while touting the implementation of his anti-Wall Street agenda.
Monday was also the first day the markets were opened after former Vice President Joe Biden won the Democratic presidential primary in South Carolina on Saturday, breaking Sanders' winning streak in the race.