Dow jumps 1,000 points on hopes for stimulus package

The Dow and S&P are in or near bear markets: Here's what that means


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 climbed 1,048.86 points to close at 21,237.38. The Standard & Poor’s 500 rose 6% to finish at 2,529.19. Both averages had their worst day since the “Black Monday” stock market crash of 1987 the prior day. 

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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.


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