Dow skyrockets as Congress works to pass stimulus package

The Dow posted its largest percentage gain since 1933

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Man takes selfie near charging bull statue near NYSE in March 2020
Man takes selfie near charging bull statue near NYSE in March 2020
(ANGELA WEISS/AFP via Getty Images)
Last Updated:
March 24, 2020 - 10:52pm

The Facts Inside Our Reporter’s Notebook

Financial markets rallied Tuesday as Congress works to pass a coronavirus stimulus package.

The Dow Jones Industrial Average closed up by more than 2,100 points. The roughly 11-percent gain was the Dow's best one-day percentage increase since 1933.

The S&P posted a more than 9 percent gain, its best since 2008, and the Nasdaq rose more than 8 percent.

The move came as Congress works toward passing a massive stimulus package aiming to bolster American workers and businesses suffering under the sagging economy caused by the coronavirus crisis.

Voluntary and government-ordered closures and restrictions on businesses coupled with health experts' constant calls for people to hunker down and practice social distancing have hurt the economy and left some workers out of a job.