Stocks rebound on stimulus hopes after worst day since 1987

Stock market corrections, on average, result in drops of 14%

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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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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.