The Dow rallies more than 600 points after last week's coronavirus-linked losses
Stocks are coming off their worst week since the 2008 financial crisis. The Dow last week dropped 12.4%, while the S&P 500 plunged 11.5%.The Dow also recorded its worst one-day point drop in history on Thursday.But the rebound was strong on Monday. After a sharply higher open and some flipping between gains and losses mid-morning, stocks moved solidly higher.The Dow was up 800 points, or 3.2%, while the S&P climbed 2.9% around midday.
The Federal Reserve next meets on March 18 and market expectations for a half-percentage point interest rate cut are at 100%, according to the CME's FedWatch Tool.That said, Fed officials have been speaking out against immediate rate cuts and Fed Chairman Jerome Powell said last week that"the fundamentals of the US economy remain strong.
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