Dow staging roughly 400-point U-turn in midday Monday trade as Goldman, JPMorgan and Nike shares surge

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U.S. stocks midday Monday were attempting to shake off an early selloff in Christmas week trade, with investors processing reports off a novel strain of coronavirus running rampant in the U.K. against the apparent progress of a coronavirus relief package set to be cemented in the U.S. The Dow Jones Industrial Average [: DJIA] was off by as many as 424 points at its Monday nadir, but was now down by about 44 points at 30,131, at last check after touching an intraday low at 29,755,53, FactSet data show. Gains for the blue-chip benchmark were supported by rise in shares of Goldman Sachs and JPMorgan Chase & Co. and Nike Inc. . The S&P 500 index was trading 0.7% lower at 3,684 but off its low at 3,636.48, while the Nasdaq Composite Index was off 0.6% at 12,682, but well off its Monday low at 12,525.
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