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Dow rallies 780 points amid hopes in virus battle
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Top Stories |
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IANS | 09 Apr, 2020
US stocks rallied with the Dow closing up about 780 points amid growing hopes in the fight against the COVID-19 pandemic.
On
Wednesday, the Dow Jones Industrial Average jumped 779.71 points, or
3.44 per cent, to 23,433.57. The S&P 500 rose 90.57 points, or 3.41
per cent, to 2,749.98. The Nasdaq Composite Index increased 203.64
points, or 2.58 per cent, to 8,090.90, Xinhua news agency reported.
All
the 11 primary S&P 500 sectors ended higher, with real estate and
energy up 7.41 per cent and 6.74 per cent, respectively, outperforming
the rest.
Sentiment remains volatile, but investors stay hopeful
about a potential slowdown in the growth of novel coronavirus cases,
experts noted.
More than 419,000 confirmed cases have been
reported in the United States as of Wednesday afternoon, with 14,262
deaths, according to the Center for Systems Science and Engineering at
Johns Hopkins University.
The market also found some support
after US Democratic presidential candidate Bernie Sanders dropped out of
the race Wednesday, paving the way for the party's only remaining
candidate Joe Biden to become the Democratic nominee.
The news
boosted the market mood as Biden is viewed by Wall Street as a more
market-friendly candidate than Sanders, according to analysts.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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