The Dow Jones Industrial Average quickly erased a 200-point loss to get in the green during the early trading session on Monday.
The index was able to slough off early losses due to declines in shares of Boeing, which fell as much as 8 percent following a deadly crash of an Ethiopian Airlines 737 MAX shortly after takeoff on Sunday. The crash marks the second deadly crash for the 737 MAX 9 jet–one of Boeing’s best-selling airplanes–within the last five months.
As of 11:10 a.m. ET, the Dow was up over 100 points, while the S&P 500 was up 1 percent and the Nasdaq Composite gained 1.36 percent.
Monday’s market moves come after the major indexes posted their worst weekly performance for 2019 following fears of a global economic slowdown creeping into investors’ minds. Last Friday’s employment report showed weaker-than-expected jobs creation.
The Labor Department said that 20,000 jobs were added in February, falling well below a Dow Jones poll of economists who were expecting 180,000. It marked the weakest month of job creation since September 2017, stoking more fears of a global economic slowdown.