Wintry mix spreads across Minnesota

MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all. 

Turn Up Your Support

It was a lucky Friday the 13th for Wall Street.

The Dow Jones Industrial Average soared 1,985 points, more than 9 percent, on the same day President Trump declared 

 to deal with the coronavirus pandemic. The S&P 500 index also jumped more than 9 percent.

The rebound comes just one day after the blue chip stock index posted its biggest drop since the Black Monday crash of 1987. 

Trump said the emergency declaration would free up as much as $50 billion for state and local governments to deal with the coronavirus. He also asked every state to set up emergency operations centers. 

Investors are hopeful as Congress appears to be getting closer to passing 

, which has jammed up or shut down many parts of the U.S. economy. The European Commission announced 

And the Federal Reserve and the European Central Bank are taking aggressive steps to help banks and other businesses. 

The Trump administration announced a series of measures intended to 

On Thursday, the Dow fell 2,352 points, or about 10 percent — its biggest one-day drop since the 

 Major stock indexes are down at least 20 percent from their recent record highs, which puts the in bear market territory after an 11-year winning streak. The Dow has fallen nearly 6,400 points since Feb. 12. 

Business and Economic News

Avie Schneider

Author

The Dow Jones Industrial Average and other major stock indexes jumped as Congress prepared a measure to help cushion the economic blow of the coronavirus. But stocks later retreated from their highs.

Dow soars nearly 2,000 points in rebound from biggest drop since 1987

Go Deeper.

Like this?

News you can use in your inbox