Wall Street rebounds sharply on hopes of stimulus


News of the coronavirus outbreak is broadcast as traders work on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S., March 10, 2020. REUTERS/Andrew Kelly

(Reuters) – Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain hunting and hopes of government stimulus calmed investors’ looming fears surrounding the coronavirus and growing signs of imminent recession.

The Dow Jones Industrial Average .DJI rose 1,167.14 points, or 4.89%, to 25,018.16, the S&P 500 .SPX gained 135.67 points, or 4.94%, to 2,882.23 and the Nasdaq Composite .IXIC added 393.58 points, or 4.95%, to 8,344.25.

Reporting By Stephen Culp; Editing by Sandra Maler

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