SPONSORED:

Stocks jump despite additional stay-at-home orders

Stocks jump despite additional stay-at-home orders
© Getty Images

Stock markets on Monday saw a boost, even as the death toll from the coronavirus pandemic continued to rise and more states issued stay-at-home orders.

The Dow Jones Industrial Average was up 690.7 points, or 3.2 percent, while the S&P 500 increased 85.2 points, or 3.4 percent.

Both Maryland and Virginia issued stay-at-home orders earlier in the day, ordering residents to avoid leaving their homes unless they were doing essential work, getting groceries or exercising.

ADVERTISEMENT

"We are no longer asking or suggesting Marylanders stay home, we are directing them to do so," Maryland Gov. Larry Hogan (R) said.

White House coronavirus response coordinator Dr. Deborah Birx said that as many as 200,000 people could die from the disease, even if "we do things almost perfectly." 

On Sunday, President TrumpDonald John TrumpPennsylvania Supreme Court strikes down GOP bid to stop election certification Biden looks to career officials to restore trust, morale in government agencies Sunday shows preview: US health officials brace for post-holiday COVID-19 surge MORE reversed his initial, controversial desire for the economy to reopen by Easter Sunday, April 12, and instead extended federal social distancing guidelines through April 30.

“Nothing would be worse than declaring victory before the victory is won,” Trump said Sunday. “That would be the greatest loss of all.”

Meanwhile, the Pentagon signed a deal to buy 8,000 ventilators for $84 million, though only 1,400 would be delivered by early May.