Wall Street jumps on hopes of US$2 trillion stimulus

Wall Street jumps on hopes of US$2 trillion stimulus

S&P 500 futures hit their daily upper trading limit on Tuesday, rebounding from another brutal session caused by investor panic over the rapidly spreading coronavirus.

Traders work on the floor of the NYSE in New York
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 20, 2020. REUTERS/Lucas Jackson

REUTERS: Wall Street jumped at the open on Tuesday as signs that Washington was nearing a deal on a US$2 trillion economic rescue package gave a shot of optimism to markets reeling under the biggest selloff since the global financial crisis.

The Dow Jones Industrial Average rose 1,130.26 points, or 6.08per cent, at the open to 19,722.19. The S&P 500 opened higher by 107.04 points, or 4.78per cent, at 2,344.44. The Nasdaq Composite gained 335.47 points, or 4.89per cent, to 7,196.15 at the opening bell.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

Bookmark