Dow Gains Nearly 1,200 Points After Worst Day Since 2008 Crisis

Hope for U.S. fiscal response to coronavirus epidemic lifted spirits after Manic Monday

by William Watts and Andrea Riquier
Market Watch

U.S. stocks closed sharply higher Tuesday after a volatile session that restored about half of the losses seen Monday when stocks saw the biggest one day fall since the 2008 financial crisis.

Tuesday’s rebound was partly fuelled by a White House push to persuade Congress to agree to a fiscal stimulus package that may include a payroll tax cut to mitigate the economic impact of the COVID-19 epidemic.

What did the major indexes do?

The Dow Jones Industrial Average US:DJIA closed 1,167.14 points, or 4.9%, higher, at 25,105.14, while the S&P 500 US:SPX rose135.67 points or 4.9% to close at 2,882.23. The Nasdaq Composite Index US:COMP was up 393.58 points, or 5%, at 8,344.25.

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