US Stocks Up 6% As Congress Approves $2Trln Stimulus Package

Sumaira FH Published March 27, 2020 | 01:30 AM

NEW YORK (UrduPoint News / Sputnik - 27th March, 2020) US stocks rose broadly for a third day on Thursday as the huge government fiscal response to the novel coronavirus (COVID-19) pandemic boosted the key Dow Jones Industrial Average index by more than 6 percent on the day and a total of 20 percent in three days.

The Dow, the broadest equities gauge on the New York Stock Exchange, closed up 1,323 points, or 6.

2 percent, at 22,523 after the US Senate passed the $2 trillion� stimulus package. The Dow has gained almost 3,800 points, or around 20 percent, since Monday's close.

The S&P500 index, a barometer for the top 500 US stocks, settled Thursday's trade up 6 percent at 2,622.

The tech-heavy Nasdaq Composite closed up 5.6 percent at 7,780.

Despite Thursday's rebound, Wall Street's main indices remained down for the year, with the Dow off 21 percent, the S&P500 down 19 percent and the Nasdaq off 13 percent.