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Dow surges nearly 2,000 points and books best day since 2008 as Trump declares national emergency amid coronavirus pandemic
U.S. stocks on Friday finished with gains of more than 9% as President Donald Trump declared a national emergency to help combat the coronavirus and its fallout, a day after the Dow and the S&P 500 suffered their biggest one-day plunge since the October 1987 crash. The Dow Jones Industrial Average rose 1,985,or 9.4%, to 23,186, the S&P 500 index ended 9.3% higher at 2,711, while the Nasdaq Composite Index finished the session up 9.3% at 7,874. All three benchmarks booked their best one-day gains since 2008. However, Friday's spectacular rally only served to highlight one of the most volatile periods on Wall Street in recent memory. The major benchmarks all closed the week sharply lower. As part of the speech, Trump outlined some of plans to help limit the impact of the viral outbreak that has curtailed personal and professional activity. He said he would call for waiving interest on all student loans, and instructed the U.S. secretary of energy to buy "large quantities" of crude-oil , after a price war between Saudi Arabia and Russia sparked a plunge in the price of oil, which has imperiled the balance sheet of the highly indebted shale-oil sector and added to problems for financial markets already reeling from the outbreak of COVID-19, the infectious disease that was first identified in Wuhan, China in December and has infected more than 128,000 people across more than 100 countries.
https://finance.yahoo.com/m/1f89de8...fe13e1/dow-surges-nearly-2,000.html?.tsrc=rss
U.S. stocks on Friday finished with gains of more than 9% as President Donald Trump declared a national emergency to help combat the coronavirus and its fallout, a day after the Dow and the S&P 500 suffered their biggest one-day plunge since the October 1987 crash. The Dow Jones Industrial Average rose 1,985,or 9.4%, to 23,186, the S&P 500 index ended 9.3% higher at 2,711, while the Nasdaq Composite Index finished the session up 9.3% at 7,874. All three benchmarks booked their best one-day gains since 2008. However, Friday's spectacular rally only served to highlight one of the most volatile periods on Wall Street in recent memory. The major benchmarks all closed the week sharply lower. As part of the speech, Trump outlined some of plans to help limit the impact of the viral outbreak that has curtailed personal and professional activity. He said he would call for waiving interest on all student loans, and instructed the U.S. secretary of energy to buy "large quantities" of crude-oil , after a price war between Saudi Arabia and Russia sparked a plunge in the price of oil, which has imperiled the balance sheet of the highly indebted shale-oil sector and added to problems for financial markets already reeling from the outbreak of COVID-19, the infectious disease that was first identified in Wuhan, China in December and has infected more than 128,000 people across more than 100 countries.
https://finance.yahoo.com/m/1f89de8...fe13e1/dow-surges-nearly-2,000.html?.tsrc=rss
