US STOCKS-Stimulus hopes buoy Wall Street after rout

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* Indexes up: Dow 3.43%, S&P 3.51%, Nasdaq 3.66%
* All S&P sectors trading higher
* Trump promises major measures to combat virus

(Updates to the open)
By Sanjana Shivdas and Medha Singh
March 10 (Reuters) - Wall Street rebounded on Tuesday as
investors pinned their hopes on policy easing by major central
banks and governments after global markets plummeted in the
previous session on fears of a coronavirus-driven recession.
Traders now expect the Federal Reserve to cut interest rates
for a second time this month, with President Donald Trump piling
more pressure by saying that the central bank should bring U.S.
interest rates down to the level of "competitor nations."
Meanwhile, Japan unveiled a $4 billion package to combat the
coronavirus outbreak.
More than 114,300 people have now been infected by the
coronavirus globally and over 4,000 have died, according to a
Reuters tally of government announcements. "Investors are trying to look for any signs that there is
light at the end of the tunnel," said Adam Sarhan, chief
executive officer of 50 Park Investments in New York.
"If they get any sign that this coronavirus is not as
devastating economically, then this market can rip higher."
The three main U.S. stock indexes suffered their worst day
since the 2008 financial crisis on Monday as oil prices plunged
following pledges by top producers Saudi Arabia and Russia to
increase output in an over-supplied market.
The selloff was so sharp it triggered trading halts put in
place in the wake of 1987's "Black Monday" crash, with the
blue-chip Dow Jones shedding as much as 2,000 points and the
indexes edging toward a bear market.
At 10:12 a.m. ET, the Dow Jones Industrial Average .DJI
was up 817.23 points, or 3.43%, at 24,668.25, while the S&P 500
.SPX was up 96.41 points, or 3.51%, at 2,842.97. The Nasdaq
Composite .IXIC was up 291.00 points, or 3.66%, at 8,241.67.
All the S&P sectors were higher, with the energy sector
.SPNY rising 5.5% following its worst day on record on Monday.
Oil recouped some losses from its biggest one-day decline in 30
years. O/R
The rate-sensitive financial sector .SPSY climbed 4.4% as
U.S. Treasury yields ticked up from all-time lows. US/
The CBOE Volatility index .VIX , a gauge of investor
anxiety, slipped about 5 points to 49.15, after closing at its
highest levels since the financial crisis.
U.S. airlines American AAL.O and Delta DAL.N suspended
their 2020 financial forecasts on the virus impact on demand,
but the S&P 1500 airlines .SPCOMAIR index rose 4.9%, tracking
broader markets. Royal Caribbean Cruises RCL.N fell 1.3% after joining a
slew of travel-related companies to flag virus impact.
Advancing issues outnumbered decliners by nearly 8-to-1 on
the NYSE and 4.9-to-1 on the Nasdaq. The S&P index recorded
three new 52-week highs and eight new lows, while the Nasdaq
recorded four new highs and 103 new lows.