Dow surges 1,600 points even as U.S. braces for ‘hardest’ week of coronavirus crisis.

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Dow surges 1,600 points even as U.S. braces for ‘hardest’ week of coronavirus crisis.
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Wall Street stages explosive rally, powering Dow nearly 1,600 points, defying grim coronavirus projections

Stocks made historic gains on Monday even as Americans hunkered down for what is expected to be the most difficult period of theThe Dow Jones industrial average, the Standard & Poor’s 500 index and the Nasdaq composite all skyrocketed more than 7 percent Monday even as the number of U.S. coronavirus deaths passed 10,000. New York City hospitals were stretched to their maximum and British Prime Minister Boris Johnson entered intensive care.

South Korea is recording encouragingly low numbers of new cases, and China’s powerful economy is coming back online. New York, the epicenter of the U.S. outbreak, reported its first daily decline in coronavirus deaths Monday. Still, losses are mounting across the United States, where covid-19 deaths surpassed 9,500 over the weekend. Unemployment has skyrocketed, with nearly 10 million Americans filing jobless claims in two weeks.

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