Home / World News / Wall Street bounces after Monday's historic sell-off, Dow Jones rises 5%

Wall Street bounces after Monday's historic sell-off, Dow Jones rises 5%

The US central bank relaunched a financial crisis-era purchase of short-term corporate debt to help companies be able to continue paying workers and buy supplies through the pandemic

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Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York. Reuters

4 min read Last Updated : Mar 18 2020 | 3:11 AM IST

The S&P 500 rose 6% on Tuesday, recouping half of the previous session's historic sell-off, as the Federal Reserve and the White House took further steps to boost liquidity and stem damage from the coronavirus outbreak that has gripped the global economy.

The US central bank relaunched a financial crisis-era purchase of short-term corporate debt to help companies be able to continue paying workers and buy supplies through the pandemic.

Tuesday's move to buy back commercial paper followed several emergency measures taken by the Fed on Sunday, including slashing interest rates to near zero.

Also on Tuesday, the Trump administration pursued an $850

Topics : Coronavirus Wall Street US stocks US economy US Federal Reserve

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