An uptick in U.S. cases and a bleak economic forecast from the U.S. Federal Reserve are sending stocks plunging.

Canada's benchmark stock index inched higher thanks as oil prices moved up.

In Toronto, however, Canada's benchmark index was up in early trading.

Canadian and U.S. stock indeces were on different paths at the start of the trading week on Monday.

Concern about economic damage from the virus has dampened a brief bout of investor optimism.

Washington has already approved a $2-trillion financial aid package, but investors are hoping for more.

U.S. stocks continued to climb in early morning trading on news Congress had reached a $2-tn coronavirus aid deal.

Major equity indexes are rallying amid news that the U.S. Congress is nearing a deal on a massive economic stimulus package.

The stock market rapidly retraced its steps after a short-lived bout of optimism after the U.S. Federal Reserve unveiled bold new programs to shore up the economy.

Market watchers hope news of massive government financial aid is finally soothing investors' nerves.