The U.S. stock market reacted jubilantly to President Trump's decision to declare a national emergency over the coronavirus pandemic and open up $50 billion in aid to states and localities affected by the outbreak, with indexes closing session highs and posting their biggest one-day gains since 2008.
- The S&P 500 closed at 2,710.95, up 230.31 or 9.28%
- The Dow closed at 23,185.62, up 1,985.00 or 9.36%
- The Nasdaq Composite closed at 7,874.23, up 672.43 or +9.34%
? The indexes clawed back some ground after cratering in the past week, but are still down huge since mid-February. Nevertheless, the late-day rally is indicative that institutional investors are seeing Trump's actions as sufficient to tackle economic fears stemming from the pandemic.
Watch the president's full press conference below: