U.S. stocks surged Monday after a Federal Reserve official said the central bank shouldn't raise interest rates too soon, which came as a big relief to investors. The biggest gains went to safe investments that pay big dividends, as they are more enticing to investors when interest rates and bond yields are low. Stocks had plunged Friday following remarks from another Fed official that suggested interest rates could go up next week. In his opinion, the Fed's cautious attitude toward raising interest rates even a little is causing strong market reactions. Investors are not sure if the central bank will raise interest rates, and they're not sure the economy is healthy enough to handle that.

Source: ABC News September 12, 2016 14:43 UTC