MARKETSDow rallies more than 1,100 points in a wild session, halves losses from Monday’s sell-off
PUBLISHED MON, MAR 9 20206:01 PM EDTUPDATED TUE, MAR 10 20206:21 PM EDT
Stocks rose sharply in wild trading on Tuesday as investors weighed the prospects of fiscal stimulus to curb slower economic growth stemming from the coronavirus outbreak.
The Dow Jones Industrial Average closed 1,167.14 points higher, or 4.9%, at 25,018.16. Tuesday’s gains for the Dow cut the index’s losses from Monday in half. Earlier in the day, the 30-stock average was down 160 points. The S&P 500 was up 4.9% at 2,882.23, notching its best day since Dec. 26, 2018. The Nasdaq Composite also advanced 4.9% to 8,347.40.
Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all rose more than 4.8%. JPMorgan Chase and Home Depot led the Dow higher, rising more than 7% each. Tech and financials were the best-performing sectors in the S&P 500, rising at least 6% each. Energy gained more than 4%.