Stocks Surge, Bonds Decline on Easing Virus Toll: Markets Wrap

Stocks surged the most in more than a week after the reported death tolls in some of the world’s coronavirus hot spots showed signs of easing over the weekend. The yen weakened and Treasuries fell.

The benchmark S&P 500 Index jumped more than 5%, following European and Asian shares higher after New York state fatalities fell for the first time and President Donald Trump said Sunday that he sees signs the pandemic is beginning to level off. The Stoxx Europe 600 Index also jumped after Italy and Spain said they...