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Stocks rebound on stimulus hopes after worst day since 1987


Stocks rebounded Friday on hopes for a coronavirus aid package from Washington after Wall Street’s worst day since the “Black Monday” crash of 1987.

The Dow Jones industrial average jumped 750 points, a day after plunging 2,352 points, or 10%, for its worst loss since its nearly 23% drop on Oct. 19, 1987. 

The Standard & Poor’s 500 surged 4%. The broad index tumbled more than 20% from its February record Thursday, sliding into a bear market and officially ending Wall Street’s historic 11-year bull market run.

House Speaker Nancy Pelosi and the Trump administration hoped to announce agreement Friday on a virus aid package to reassure anxious Americans by providing sick pay, free testing and other resources in an effort to calm teetering financial markets and the mounting crisis.

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