Stocks get a boost

Name: WORLD
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A Wall Street trader working in his home office in Basking Ridge, N.J., last month Associated Press/Photo by Shannon Woods/Courtesy of Jay Woods

New COVID-19 infections and deaths showed signs of slowing in Italy and Spain over the weekend. That spark of hope fueled a jump in markets around the world on Monday morning.

Where were the gains? U.S. stocks climbed more than 4 percent as trading opened, with similar gains in Europe and Asia. Markets have struggled since a dramatic increase in coronavirus infection rates caused businesses to shut down around the world. Crude oil fell again, however, after some gains the prior week when investors thought Saudi Arabia and Russia would cut back on production.

Dig deeper: Read Harvest Prude’s report on the stimulus package Congress passed to buffer the U.S. economy against the pandemic.

Rachel Lynn Aldrich

Rachel is a former assistant editor for WORLD Digital. She is a Patrick Henry College and World Journalism Institute graduate. Rachel resides with her husband in Wheaton, Ill.