The Dow Jones Industrial Average midday Monday was on pace for its best daily gain in more than two years at its peak, as the coronavirus-stricken stock market attempted to recover from its worst weekly losses since the 2008 financial crisis. The Dow DJIA, -0.50% was up 795.7 points, or 3.1%, at its intraday high at 26,205.06, following a week in which the blue-chip gauge sank 3,600 points and fell into correction territory, defined as a decline from a recent peak of at least 10% from a recent peak, but less than 20%. The S&P 500 index SPX, -1.05% and the Nasdaq Composite Index COMP, -1.71% also were rebounding sharply, each up by at least 2% on Monday, after those gauges also fell into correction last week. Markets are increasingly anticipating that the Federal Reserve will act to provide some injection of confidence to a market that has been leveled by COVID-19, the infectious disease that reportedly originated in Wuhan, China last year, and has infected nearly 90,000 globally. Some strategist are speculating that the market may see a surprise cut by the Fed or a firmer reduction in benchmark rates of at least 50-basis points from the current 1.50-1.75% range. A coordinated effort among global central banks also has been hoped for.