ABC News reports:
U.S. equity markets registered the strongest one-day rebound in history on Tuesday amid investor optimism that members of Congress will overcome their differences to reach a deal on a nearly $2 trillion COVID-19 stimulus package.
In the final hour of trading, gains picked up steam giving the Dow Jones Industrial Average a 2,112 point gain, the biggest ever, or 11 percent, while the S&P 500 gained over 9 percent and the Nasdaq over 8 percent.
The rally followed a plunge on the major averages Monday despite the Federal Reserve announcing it would buy unlimited amounts of assets to support the economy. Monday’s 3 percent drop left the Dow at a three-year low and on track for its worst month since September 1931, one of the earliest years of the Great Depression.