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Dow pops over 1,600 points on coronavirus slowdown, new stimulus hopes

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NEW YORK (AP) - U.S. equity markets soared Monday on chatter that a new round of fiscal stimulus could come by mid-May and could be valued around $1.5 trillion, as reported by FOX Business' Charlie Gasparino.

Also fueling the buying was the latest COVID-19 cases which showed signs of abating in the hardest-hit areas. The Dow Jones Industrial Average gained 1,627 points, or 7.7 percent, while the S&P 500 and Nasdaq Composite were higher by 6.9 percent and7.3 percent, respectively. RELATED: CoronavirusNOW.com, FOX launches national hub for COVID-19 news and updates The number of new cases over the weekend in New York City, the U.S.’s epicenter for the virus, rose by 30.4 percent versus last week, down from a 46.1 percent jump the week prior.

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