Stocks jumped on Monday, with gains again accelerating in the last hour of trading, as markets around the world continue to claw back from their sharp tumble.

The Standard & Poor’s 500 powered to a third straight day of gains, and the index has erased about two-thirds of its 10 per cent loss since setting a record high a month ago. Analysts said the key reason for Monday’s gain was a drop in Treasury yields, which have been at the centre of worries for stock investors in recent weeks, but some were still surprised by how much the stock market climbed.

On Monday:

The Standard & Poor’s 500 index gained 32.30 points, or 1.2 per cent, to 2,779.60.

The Dow Jones industrial average rose 399.28, or 1.6 per cent, to 25,709.27.

The Nasdaq composite gained 84.07, or 1.1 per cent, to 7,421.46.

The Russell 2000 index of smaller-company stocks rose 10.15 points, or 0.7 per cent, to 1,559.33.

For the year:

The S&P 500 is up 105.99 points, or 4.0 per cent.

The Dow is up 990.05 points, or 4.0 per cent.

The Nasdaq is up 518.07 points, or 7.5 per cent.

The Russell 2000 is up 23.82 points, or 1.6 per cent.