Dow jumps 700 points after worst day since financial crisis

Dow poised to open higher after worst day since financial crisis


U.S. stocks and oil prices recovered Tuesday, a day after crude suffered a historic rout while the broader stock market recorded its worst day since the financial crisis. 

The Dow Jones industrial average jumped 700 points, after plunging more than 2,000 points on Monday. A free fall in oil prices and mounting coronavirus cases rattled jittery investors a day earlier and pushed major indexes to the edge of a bear market, or a drop of 20% from a recent peak. 

The Standard & Poor’s 500 climbed 2.5% Tuesday, after posting its worst one-day percentage drop since October 2008. The index is off 17% from its Feb. 19 record. 

“We’re in a volatile period, and investors seeking long-term growth will benefit from staying calm and waiting for the current downturn to pass,” Michael Hanson, senior vice president of research at Fisher Investments, said in a note.


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