Dow futures surge as Joe Biden scored big Super Tuesday wins

Dow futures surge as Joe Biden scored big Super Tuesday wins

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U.S. stock futures jumped Wednesday, buoyed by Super Tuesday primary results that showed former Vice President Joe Biden was poised to retake the lead for the Democratic nomination.

Dow futures rallied 700 points while Standard & Poor’s 500 futures climbed 2.4%. 

Biden capped a strong Super Tuesday by winning Texas, the third-largest overall prize in the Democratic primaries, and at least eight other states. Bernie Sanders, a strong critic of Wall Street, won the biggest prize of Tuesday’s primaries with a victory in California. 

The gains came following a day of wild swings Tuesday after a surprise decision by the Federal Reserve to cut interest rates by half a percentage point. The move was aimed at defusing fears the coronavirus outbreak might stunt global economic activity.

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