Wall Street rallied Tuesday morning, just one day after a historic rout that saw the Dow Jones Industrial Average drop by 2,013 points, the most ever.
The Dow soared by almost 800 points at the opening bell, with the S&P 500 and Nasdaq each notching up gains of around 3 percent.
The rebound in stocks came after President Donald Trump said on Monday he will take “major” steps to ease concerns about the economy in light of the coronavirus outbreak. Trump said he would be meeting with congressional Republicans on Tuesday to discuss payroll tax cuts.
“We’ll be discussing a possible payroll tax cut or relief, substantial relief, very substantial relief, that’s a big number.”