Wall Street rebounded and the Dow surged more than 1000 points a day after stocks suffered their steepest decline since 1987
NEW YORK - The S&P 500 rose 6% on Tuesday, clawing back a significant portion of Monday’s steep losses, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.
The move to buy back commercial paper followed several emergency measures taken by the Fed on Sunday, including slashing interest rates to near zero. “This issue about liquidity has been a concern, and that’s what they’re trying to alleviate,” said Stephen Dover, head of equities at Franklin Templeton.“That said, what is as big a factor is that since this is a consumer-driven slowdown, you have to have fiscal stimulus... and we’re seeing around the world very large fiscal stimulus, so that’s a lot of what is affecting the market now.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street set to crash again after Fed slashes ratesWall Street looked set to crater on Monday as fears of a coronavirus-driven rece...
Read more »
What to watch today: Wall Street to plunge even after huge weekend Fed movesU.S. stock futures are 'limit down' 5% on Monday despite the Fed's massive monetary stimulus campaign and interest rate cut to zero.
Read more »
Wall Street bounces after Monday's selloff as Fed boosts liquidityThe S&P 500 rose 6% on Tuesday, a day after its steepest decline since the 1987 ...
Read more »
Stocks poised for more losses Monday even as Fed intervenes to try to calm marketsStock futures plunged Monday and were halted for trading as the Federal Reserve took emergency action to cushion the economy from the virus pandemic.
Read more »
Wall Street Heads For Heavy Losses As Global Coronavirus Cases Overtake ChinaThe Federal Reserve's emergency measures announced over the weekend have given investors little confidence with Monday marking another major stock market sell off.
Read more »
Wall Street says these things must happen before the market will stop plunging and bottomStrategists said stocks would only bottom when more fiscal stimulus is rolled out and the coronavirus outbreak stops worsening.
Read more »