Major stocks indexes closed broadly higher on Wall Street Tuesday after President Donald Trump promised he’s “going big” with plans to blunt the economic pain caused by the coronavirus outbreak.
The market got back not quite half of what it lost in a breathtaking drop a day earlier, which was the biggest in more than three decades.
Treasury Secretary Steven Mnuchin said the government intends to send checks to Americans in the next two weeks. Earlier, the Federal Reserve dusted off a program from the 2008 financial crisis to get the short-term borrowing market working more smoothly.
The S&P 500 index rose 143.06 points, or 6%, to 2,529.19.
The Dow Jones Industrial Average rose 1,048.86 points, or 5.2%, to 21,237.38.
The Nasdaq rose 430.19 points, or 6.2%, to 7,334.78.
The Russell 2000 index of smaller company stocks rose 69.27 points, or 6.7%, to 1,106.68.
For the week:
The S&P 500 is down 181.83 points, or 6.7%.
The Dow is down 1,948.24 points, or 8.4%.
The Nasdaq is down 540.09 points, or 6.9%.
The Russell 2000 is down 103.45 points, or 8.6%.
For the year:
The S&P 500 is down 701.59 points, or 21.7%.
The Dow is down 7,301.06 points, or 25.6%.
The Nasdaq is down 1,637.82 points, or 18.3%.
The Russell 2000 is down 561.78 points, or 33.7%.