Dow surges 4.9% in another wild day on hopes for virus aid
NEW YORK (AP) – Stocks are closing sharply higher on Wall Street Tuesday, adding 4.9% to major indexes, as hopes build for a greater response from the Trump administration to the economic threat from the coronavirus outbreak.
The gains recovered about half of the market’s historic losses from the day before and came after another wild day of whipsaw trading.
The Dow Jones Industrial Average jumped more than 1,100 points.
Market watchers say more big swings are likely until the outbreak starts to slow down.
The price of oil bounced back a day after cratering nearly 25% after Saudi Arabia started a price war with Russia.