Wall Street snapped back from three-year lows and the Dow jumped more than 1,500 points, as hopes of Washington passing an economic rescue package provided a shot of optimism to markets reeling under the biggest selloff since the financial crisis.

All three main US stock indexes jumped about 6 per cent, swinging back from another brutal selloff in the previous session as the virus outbreak forced entire nations to shut down.

Read the full Reuters report here.