Stocks post biggest rally since 2008 after Trump declares national emergency, announces state aid

by Adam Ford · Mar 13th, 2020 4:23 pm
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Last Updated Mar 14th, 2020 at 11:23 am

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:


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