U.S. stock indexes finished the day up as investors tried to absorb the latest financial impacts of the coronavirus. The Dow rebounded, rising nearly 200 points a day after its steep plunge.
The Dow plummeted more than 1,300 points after President Trump announced new emergency steps. The New York Stock Exchange said that to protect its employees, it will close its trading floor Monday.
In a rebound from its record plunge, the Dow gained more than 1,000 points as the White House planned a massive stimulus package and the Fed set up a new loan program to boost the economy.
The Dow tumbled nearly 13% after the Federal Reserve aggressively cut interest rates to near zero and as the nation imposed more restrictions in an effort to curb the spread of the coronavirus.
The Dow Jones Industrial Average and other major stock indexes jumped as President Trump declared a national emergency to deal with the coronavirus pandemic.
The Dow Jones Industrial Average fell nearly 10% — its biggest one-day drop since 1987 — as the coronavirus pandemic continued to rattle markets. Trading was temporarily halted earlier in the day.
Analysts like to say that the stock market is not the economy. But a bear market reflects concerns and anxieties about the economy, and at times a bear market is accompanied by a recession.
Stocks slid early on, amid escalating fears that the U.S.-China trade war will further damage a worldwide economy that's already slowing. But the market recovered by day's end.
World stock markets saw sharp sell-offs after China let its currency slide, the latest move in its trade war with the United States. The Dow Jones Industrial Average closed down 767 points, or 2.9%.
Uber has never been profitable, yet the ride-hailing company may be valued at as much as $90 billion when it goes public Friday. It will be one of the largest tech IPOs ever.