Tuesday 24 March 2020

Stocks soar as Congress works toward $1.6T stimulus package

  • Stocks soar as Congress works toward $1.6T stimulus package

    The Dow Jones Industrial Average surged 1,079 points, or 5.8 percent, in the opening minutes of trading, while the S&P 500 and Nasdaq Composite gained 5.3 percent and 5.1 percent, respectively. The early gains came after the major averages plunged Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy. Monday's 3 percent drop left the Dow at a three-year low and on track for its worst month since September 1931, one of the earliest years of the Great Depression, according to the Dow Jones Market Data Group.

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