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Post by bot on Mar 24, 2020 18:27:19 GMT -5
Dow ends over 11% higher as lawmakers near stimulus agreement
Stocks ended sharply higher Tuesday, in a rally that traders attributed to expectations lawmakers will reach a deal on a massive fiscal stimulus deal aimed at cushioning the economy from the hit it will take from the COVID-19 pandemic. The Dow Jones Industrial Average surged around 2,113 points, or 11.4%, to end near 20,705, according to preliminary figures, while the S&P 500 advanced around 210 points, or 9.4%, to close near 2,447. The Nasdaq Composite rose around 557 points to end near 7,418, a gain of 8.1%. After hitting all-time highs in February, stocks have plunged into a bear market, in an accelerated meltdown tied to fears over the impact of the coronavirus outbreak on global and economic growth.
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