(CNBC) -- U.S. stocks closed sharply higher Monday, regaining more than half of their correction-level losses amid a stabilization in interest rates.
The Dow Jones industrial average closed up nearly 400 points on the week's first day of trading with industrial titans Boeing and 3M contributing the most to the blue-chip index. The S&P 500 also gained, up roughly 1.2 percent with a strong performance in telecommunications, technology and financials stocks.
Berkshire Hathaway Class B stock led the charge higher with a 3.88 percent gain after CEO Warren Buffett told investors that, should the company fail to find any market bargains, it will likely return cash to shareholders.
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