5/23, 5:07 PM (Source: TeleTrader)
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US extends gains, Dow jumps 580 pts

Major stock markets in the United States extended gains on Monday, with Dow Jones hitting 580 points at 11:07 am ET. International Monetary Fund (IMF) Managing Director Kristalina Georgieva stated that the global economic outlook has worsened since April, adding, however, that a global recession is not likely at the moment.

The Dow Jones skyrocketed 1.88% or 588 points at 11:08 am ET. The S&P 500 jumped 1.43% a minute later, while the Nasdaq 100 gained 0.78% at 11:09 am ET. The euro traded 1.05% higher against the dollar at 11:10 am ET, selling for 1.06757.

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