Major indexes staged a late rally on Wall Street Friday after President Donald Trump announced new measures to fight the coronavirus.
The Dow Jones Industrial Average jumped 1,985 points, or 9.4%, its biggest rise since October 2008. Stocks doubled their gains in the last half-hour as Trump made his remarks.
The rally came at the end of a week of turbulent trading fueled by heightened fears that fallout from the coronavirus could trigger a global recession. Thursday’s drop was the worst since the Black Monday crash of 1987.
The S&P 500 index rose 230.38 points, or 9.3%, to 2,711.02.