The dow recovered a bit today and had one of its largest point gains in history after President Trump unveiled his plan to combat the Corona Virus
Investors were encouraged after President Trump backed “very substantial relief” for the areas of the economy hardest hit by the new coronavirus outbreak.
He said Tuesday he had a “great meeting” with Senate Republicans, and that “there’s a great feeling about doing a lot of things.
This followed his remarks on Monday. “We are going to take care of, and have been taking care of, the American public and the American economy,” Trump said at a White House press briefing where he floated a payroll tax cut, making sure those infected by COVID-19 don’t miss a paycheck and helping embattled industries, such as airlines and cruise operators.
The rebound helpsrecoup some of Monday’s losses of more than 7 percent which were the steepest for stock indexes since the 2008 financial crisis.
Looking at stocks, airlines and cruise ship companies, some of the hardest-hit groups since the COVID-19 outbreak, turned higher in response to Trump’s comments.