Major indexes staged a late rally on Wall Street Friday after President Donald Trump announced new measures to fight the coronavirus.
The Dow Jones Industrial Average jumped 1,985 points, or 9.4%, its biggest rise 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 fallout from the coronavirus could trigger a global recession. Thursday's drop was the worst since the Black Monday crash of 1987.
The S&P 500 index rose 230.38 points, or 9.3%, to 2,711.02.
The Dow Jones Industrial Average rose 1,985.00 points, or 9.4%, to 23,185.62.
The Nasdaq rose 673.07 points, or 9.3%, to 7,874.88.
The Russell 2000 index of smaller company stocks rose 87.20 points, or 7.8%, to 1,210.13
For the week:
The S&P 500 fell 261.35 points, or 8.8%.
The Dow fell 2,679.16 points, or 10.4%.
The Nasdaq fell 700.74 points, or 8.1%.
The Russell 2000 fell 239.09 points, or 16.5%.
For the year:
The S&P 500 fell 519.76 points, or 16.1%.
The Dow fell 5,352.82 points, or 18.8%.
The Nasdaq fell 1,097.73 points, or 12.2%.
The Russell 2000 fell 458.33 points, or 27.5%.