Stocks Ended Sharply Higher, Oil Prices Settled Lower

U.S. stocks ended sharply higher on Monday, as market participants continued tracking the spread of the coronavirus. The Dow Jones Industrial Average rose 690.70 points, or 3.19%, to 22,327.48. The S&P 500 advanced 85.18 points, or 3.35%, to 2,626.65. The Nasdaq Composite gained 271.77 points, or 3.62%, to 7,774.15.

Oil futures posted their lowest settlement since 2002, as the global COVID-19 pandemic crushes demand and a price war between Saudi Arabia and Russia floods the world with crude. West Texas Intermediate crude for May delivery fell $1.42, or 6.6%, to settle at $20.09 a barrel. May Brent crude lost $2.17, or 8.7%, at $22.76 a barrel.