Dow Surges 1,173 Points

Stocks soar on plans for more stimulus measures, Biden wins
By Newser Editors and Wire Services
Posted Mar 4, 2020 3:00 PM CST
Dow Surges 1,173 Points
The handheld device of trader Jeffrey Vazquez is reflected in his glasses as he works on the floor of the New York Stock Exchange, Wednesday, March 4, 2020. Stocks are surging in early trading on Wall Street, led by health care stocks after Joe Biden scored a number of Super Tuesday wins.   (AP Photo/Richard Drew)

The Dow Jones Industrial Average soared more than 1,100 points, or 4.5%, on hopes for more stimulus measures from around the globe to fight the virus outbreak, the AP reports. Health care companies led the gains after Joe Biden solidified his contender status for the Democratic presidential nomination. Investors see him as a more business-friendly alternative to Bernie Sanders. Congressional leaders agreed on an $8.3 billion bill to battle the new coronravirus, and investors are anticipating that more central banks will follow the Federal Reserve's lead in cutting rates. The S&P 500 jumped 4.2% and the Nasdaq rose 3.8%. The yield on the 10-year Treasury rose slightly. (More stock market stories.)

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