Markets Right Now: Stocks surge; Dow industrials gain 500

NEW YORK (AP) — Stocks are surging on Wall Street as the market claws back some of its massive losses last week. The Dow Jones industrials were up more than 500 points.

The gains in afternoon trading Monday came after the market slumped into a ‘correction’ for the first time in two years last week.

Technology companies and banks, some of the biggest winners on the market over the past year, are up the most. European markets also rose.

The Dow was up 488 points, or 2 percent, to 24,678. It was up as much as 548 earlier.

The broader Standard & Poor’s 500, which many index funds track, rose 43 points, or 1.7 percent, to 2,663. The Nasdaq composite gained 118 points, or 1.7 percent, to 6,992.

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