Following a very drastic drop over the last few weeks sparked by Coronavirus fears, the stock market just took a significant bounce back in the right direction.
That significant bounce became the largest one day point gain in the history of the market.
According to Fox Business, U.S. equity markets registered the strongest one-day rebound in history on Tuesday amid investor optimism that members of Congress will overcome their differences to reach a deal on a nearly $2 trillion COVID-19 stimulus package.
In the final hour of trading, gains picked up steam giving the Dow Jones Industrial Average a 2,112 point gain, the biggest ever, or 11 percent, while the S&P 500 gained over 9.3 percent and the Nasdaq over 8.1 percent.
|I:DJI||DOW JONES AVERAGES||20704.91||+2,112.98||+11.37%|
|I:COMP||NASDAQ COMPOSITE INDEX||7417.857035||+557.18||+8.12%|
The upbeat sentiments were boosted by comments from President Trump, who said he supports reopening businesses sooner rather than later.
“I’d love to have the country opened up and raring to go by Easter.” Trump said on a virtual coronavirus town hall held by Fox News. In a separate interview with Bill Hemmer on Fox News Trump added, “We want to get our economy back.”