U.S. stocks surged at opening Tuesday, rebounding off massive losses from pandemic worries.
At opening, the Dow Jones Industrial Average was up 2.07%.
The S&P 500 and Nasdaq composite gained 2.37% and 2.19%, respectively.
The gains come after U.S. stocks suffered their second-worst drop in history Monday, with the Dow Jones Industrial Average closing just above the level it was around President Trump’s inauguration.
The index finished at 20,180 points, just above the 19,732 points it was at when Trump came into office, a decline of 12.96%. The drop is second only to 1987’s “Black Monday.”
[Click here for complete coronavirus coverage]
The S&P 500 and Nasdaq composite also closed down, 11.98% and 12.32%, respectively.
Markets are expected to remain volatile as the spread of the coronavirus disrupts business.
Six counties in the San Francisco Bay Area issued a shelter-in-place order to stop the spread of the coronavirus.
The Monday order required all people in San Francisco to remain in their homes. Officials asked that residents only leave to exercise, buy food, or pick up medical supplies. The policy, which will be in place for three weeks, asks residents to avoid any other travel. Nearly 7 million people reside in the counties that issued the order.
The White House on Monday also cautioned people to avoid crowds of over 10 people and to avoid restaurants and bars.
