Stocks up after Wall Street’s worst day in 12 years
Stocks rose after coronavirus outbreak.produced the worst day of losses since the financial crisis in 2008. Investors are hopeful that a fiscal stimulus package from the federal government will ease the economic impact of the widening
The Dow was up about 830 points as of 3:30 p.m. Eastern time, or 3.5% to around 24,680. The broad-based S&P 500-stock index and the tech-heavy Nasdaq composite were up 3.6% and 4%, respectively.
Tuesday’s gains erase only a small part of Monday’s nearly 8% plunge, which marked the biggest single-day point drop in the history of the Dow and the largest percentage decline since 2008. Economists have raised the, warning that American consumers wary of the virus could pare spending on travel, restaurants, sporting events and other businesses.
[Source: CBS News]