Stocks stabilized on Tuesday after the market’s worst point drop in history, with major indexes recovering more than 5% on the news of the Federal Reserve offering help for small businesses and the administration proposing a $1 trillion economic relief plan f…

Stocks stabilized on Tuesday after the market’s worst point drop in history, with major indexes recovering more than 5% on the news of the Federal Reserve offering help for small businesses and the administration proposing a $1 trillion economic relief plan f…

Stocks stabilized on Tuesday after the market’s worst point drop in history, with major indexes recovering more than 5% on the news of the Federal Reserve offering help for small businesses and the administration proposing a $1 trillion economic relief plan from the coronavirus pandemic.
The Dow Jones Industrial Average rose 1,049 points, or 5.2%, to close at 21,237.
The tech-heavy Nasdaq was up more than 6.2%, and the S&P 500 rose nearly 6%.The indexes had lost about 12% on Monday, with the Dow falling nearly 3,000 points, on concerns about the pandemic.
The Fed said it would provide emergency commercial loans of up to $1 trillion through an entity last used during the financial crisis of 2008.
“That has created significant stability in the market today,” Mr. Mnuchin said.
The White House also proposed a relief plan that would include direct payments of at least $1,000 to most Americans, plus hundreds of billions in aid to businesses.
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