(CNBC) -- Stocks rose for a third straight day on Wednesday, pushing the S&P 500 back to levels hit prior to the coronavirus scare.
The broad index closed 1.1% higher at 3,334.69, led by strong gains in the energy, financials and health care sectors. That gain drove the S&P 500 to a record closing high. It also erased its losses stemming from fears over the coronavirus and came within a whisker of hitting an all-time intraday high.
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At one point, the S&P 500 was down as much as 3.1% because of worries around the fast-spreading virus. The index has also seen volatility spike amid the virus fears, posting five moves of at least 1% over the past two weeks. Prior to that, the S&P 500 had gone 74 sessions without a move of that magnitude.