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Dow skyrockets to best day since 1933; markets bet on stimulus

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Emily McCormick,Javier E. David Nishant Mohan

Mar. 24 2020

Stocks staged a monster rally on Tuesday, with the battered Dow Jones Industrial Average posting its best day since 1933, as Wall Street bet that Washington’s warring political factions will coalesce around a $2 trillion stimulus package to combat the effects of the coronavirus.

Negotiations over the package, meant to backstop reeling consumers forced to stay home from work and throw financial lifelines to key industries, helped major benchmarks reverse a bloodletting that’s dragged them deep into a bear market.

The Dow rallied by over 11% to close up by over 2,100 points — only a day after a sell-off virtually erased all of the gains made since President Donald Trump was elected — and its best day in nearly 90 years. The S&P 500 Index had its strongest session since 2008, while the Nasdaq turned in its best performance in 7 days.





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