Dow closes with a gain after 1,200-point slide

Stocks on Monday extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to close in what the market considers a correction. | Getty

NEW YORK — A volatile day on Wall Street ended Monday with stocks notching modest gains after climbing back from a steep slide that had knocked more than 1,200 points off the Dow Jones Industrial Average.

The late-afternoon comeback pulled the S&P 500 out of so-called correction territory — a drop of 10% or more from its recent high.