Stocks rebound from big losses on hope for US economic aid

Coronavirus

NEW YORK (AP) – Stocks have recouped most of their historic losses on Wall Street. Major indexes climbed nearly 5% on Tuesday as hopes rose, faded and then rose again that the Trump administration will do more to cushion the economic pain from the coronavirus outbreak.

Monday’s 7.6% plunge for U.S. stocks was the sharpest since 2008, when global authorities banded together to rescue the economy from the financial crisis. Market watchers say more such swings are likely until the number of new infections stops accelerating.

The brightest signal of receding fear in the market was a push higher for Treasury yields.

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