Recovery comes after major US indices suffered their worst session since 1987 on recession fears. FMTNews WallStreet Market
Traders listen at New York Stock Exchange to President Donald Trump’s televised speech from the White House.
The broad-based S&P 500 jumped 9.3% to 2,711.02, while the tech-rich Nasdaq Composite Index climbed 9.4% to close at 7,874.88. Trump also announced plans to buy oil for the Strategic Petroleum Reserve, a US emergency stockpile, and to waive interest rates on student loans, while accessing US$50 billion to address the crisis.
The measures come on the heels of emergency steps by the Federal Reserve to boost market liquidity and cut interest rates.
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