Dow closes with second straight day of gains, as Senate nears passage of stimulus package


Charging bull statue on March 22, 2020
Charging bull statue on March 22, 2020
(Tayfun Coskun/Anadolu Agency via Getty Images)
Last Updated:
March 26, 2020 - 2:37pm

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Financial markets closed higher again on Wednesday as the Senate appeared poised to pass a massive stimulus package to help businesses and workers struggling from the coronavirus pandemic.

The Dow Jones Industrial Average closed up by 495.64 points, or more than 2 percent higher. The S&P 500 posted a more than one-percent gain. The Nasdaq fell by half a percent as several tech companies closed lower.

The gains Wednesday follow the Dow on Tuesday gaining more than 2,100 points, or more than 11 percent, its largest single-day percentage increase since 1933.

The Dow lost some of its Wednesday gains before the closing bell as Vermont Sen. Bernie Sanders threatened to "put a hold" on the stimulus package.

"Unless Republican Senators drop their objections to the coronavirus legislation, I am prepared to put a hold on this bill until stronger conditions are imposed on the $500 billion corporate welfare fund," Sanders tweeted.