Stocks surge as Trump announces new virus measures; Dow up over 9%

Business
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NEW YORK (AP) — Stocks surged, recouping much of a historic plunge, after President Donald Trump announced new measures to fight the coronavirus.

The Dow Jones Industrial Average jumped 1,985 points, or 9.4%, its best gain 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 the fallout from the coronavirus could bring on a global recession. Thursday’s drop was the worst since the Black Monday crash of 1987.

Investors have been clamoring for strong action from the U.S. government to combat the economic impact.

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