Stocks Surge to 3-Week High on Easing Virus Toll: Markets Wrap
- Oil slips after forecast for large stockpile gain; Gold rises
- Tech leads S&P 500 higher; Dow gains more than 1,600 points
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Stocks surged the most in almost two weeks after the reported death tolls in some of the world’s coronavirus hot spots showed signs of easing. The yen weakened and Treasuries fell.
The benchmark S&P 500 Index surged late in the trading session to finish up 7%, closing at the highest level since March 13. New York Governor Andrew Cuomo said earlier that deaths were showing signs of hitting a plateau in the state that has become the epicenter of the U.S. outbreak. Italy had the lowest number of new coronavirus infections in nearly three weeks and France reported a continued leveling-off of cases, helping to send European and Asian shares higher.