© 2024 Connecticut Public

FCC Public Inspection Files:
WEDH · WEDN · WEDW · WEDY · WNPR
WPKT · WRLI-FM · WEDW-FM · Public Files Contact
ATSC 3.0 FAQ
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Dow Bounces Back, Jumping More Than 1,100 Points After Market's Terrible Day

U.S. stock indexes rose nearly 5% Tuesday, after the market's worst day since 2008.
Richard Drew
/
AP
U.S. stock indexes rose nearly 5% Tuesday, after the market's worst day since 2008.

What a difference a day makes.

After diving more than 2,000 points Monday, the Dow Jones Industrial Average regained some of its footing Tuesday, rising 1,167 points.

The blue chip index, the S&P 500 and Nasdaq rose nearly 5% after the market's worst day since 2008. The price of oil also soared, up 11% after losing 25% the day before.

Tuesday's rebound was the latest move in what has been a yo-yo pattern for the stock market in the past few weeks.

The jump followed President Trump's call for a payroll tax cut and other steps to help the economy amid the coronavirus epidemic.

Trump said Monday that the White House would ask Congress to pass a payroll tax cut and relief for hourly wage earners to help workers who may be feeling the financial pinch because of the outbreak.

And on Tuesday, the president said his administration was working to help the cruise and airline industries, which have been hurt by the epidemic.

"We want to protect our shipping industry, our cruise industry, cruise ships," Trump said. "We want to protect our airline industry, very important. But everybody has to be vigilant and has to be careful. But be calm. It's really working out."

On Monday, the Dow fell nearly 7.8% and the S&P 500 dropped 7.6%. Stocks fell so sharply that it triggered a rare 15-minute trading halt on the New York Stock Exchange.

NPR's Scott Horsley contributed to this report.

Copyright 2021 NPR. To see more, visit https://www.npr.org.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.

Related Content