Dow Surges by 1,627 as Markets Eye Eventual COVID-19 Peak

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, on March 9, 2020. Reuters/Carlo Allegri/File Photo

The blue-chip Dow surged over 1,600 points Monday, with the furious rally coming as a drop in the daily death toll in New York raised hopes that the pandemic could level off soon.

All three major Wall Street indexes—the Dow, Nasdaq, and S&P 500—opened sharply higher on Monday, before climbing modestly intraday.