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Markets

Dow posts record 1,294-point gain following coronavirus rout

Hopes of coordinated monetary response lift investor sentiment

Traders smile on the floor at the New York Stock Exchange on March 2.   © Reuters

NEW YORK -- The Dow Jones Industrial Average logged its biggest-ever daily point jump Monday amid growing hopes of a coordinated global stimulus to mitigate the economic blow from the new coronavirus.

The blue chip index ended nearly 1,294 points higher at 26,703, climbing for the first time in eight trading days. Technology and retail stocks led the comeback, with Apple rising 9% and Walmart 8%. Financial stocks also performed well. JPMorgan Chase ended up 5%.

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