Press "Enter" to skip to content

Dow jumps 1,000 points on hopes for stimulus package

U.S. stocks rebounded Tuesday after the White House laid out additional plans to help cushion the economy from the coronavirus pandemic.

President Donald Trump and Treasury Secretary Steve Mnuchin say they are exploring the idea of legislation that would include sending checks to Americans to help them manage through the economic impact of the virus disruptions.

The gains follow the market’s worst sell-off in more than three decades on Monday.

The Dow Jones industrial average briefly climbed 1,000 points. The Standard & Poor’s 500 rose 4.5%. Both averages had their worst day since the “Black Monday” stock market crash of 1987 the prior day. 

Fed:What zero rates, sub-1% bond yields mean for your mortgages, student loans and credit cards

Coronavirus:How bad is the stock market sell-off?

Monday’s 12% drop for the S&P 500 came as voices from Wall Street and the White House warned the coronavirus may drag the economy into a recession.

Source link

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *