Traders work on the floor of the NYSE after the opening bell at the New York Stock Exchange on Wall Street In New York City on November 9, 2012. The market looks to recover from a two day 3.5% stock sell-off. NEW YORK, Nov. 19 (UPI) -- U.S. stock markets jumped Monday as Republicans and Democrats in Washington signaled hope the so-called fiscal cliff could be avoided. Fears the economy would fall off the "fiscal cliff" have undermined markets that have dropped sharply since before the Nov. 6 election. In early afternoon trading Monday, the DJIA added 165.11 points or 1.31 percent to 12,753.42. The tech-heavy Nasdaq composite index gained 49.53 points or 1.74 percent to 2,902.66. The S&P 500 tacked on 21.36 points or 1.57 percent to 1,381.24. The benchmark 10-year treasury fell 10/32 to yield 1.613 percent. The euro rose to $1.2802 from Friday's $1.2743. In London, the FTSE 100 index added 2.36 percent, 132.07, to 5,737.66.