U.S. stocks jump after sluggish start to the week

The Dow Jones Industrial Average gained 400 points as the bell rang Tuesday morning. The S&P 500 rose 1.7%.

U.S. futures rose ahead of the market's open this morning. 

The International Monetary Fund (IMF) said Tuesday that it expects the global economy to contract by 3% in 2020.

"It is very likely that this year the global economy will experience its worst recession since the Great Depression, surpassing that seen during the financial crisis a decade ago," said Gita Gopinath, the IMF's chief economist. 

Despite optimistic outlooks from several U.S. doctors and politicians, a spokesperson for the W.H.O. said during a briefing in Geneva that coronavirus cases in Europe and the United States are not peaking yet.

She also said that 90% of new cases are coming from the U.S. and Europe, which likely does not take into consideration the underreported case numbers out of China, or the numbers that have likely not yet been tallied in much of the developing world.