Dow jumps 1,000 points in wild trading as Wall Street tries to rebound from coronavirus sell-off
Stocks rose sharply in volatile trading Friday as Wall Street tried to rebound from the sharp losses suffered in the previous session — the worst since the “Black Monday” market crash in 1987.
The Dow Jones Industrial Average traded 1,016 points higher, or 4.8%. At one point, the Dow was up more than 1,300 points and on pace for its biggest one-day gain since March 2009.
The S&P 500 was up 4.6% while the Nasdaq Composite surged 4.3%. Both indexes were up more than 6% at one point. Investors awaited a news conference from President Donald Trump on the coronavirus outbreak.
“Volatility, I always remind people, means big moves in both directions,” said Randy Frederick, vice president of trading and derivatives at Charles Schwab. “After as big of a rout as we’ve seen in the last 30 years, it’s not at all surprising to see at least a little …continued .
[Source: CNBC News]