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Dow Surges Most Since 1933 on Stimulus Deal Hopes: Markets Wrap

  • S&P 500 has biggest gain in almost 12 years; greenback slips
  • Treasuries drop, leading most European sovereign bonds lower
Bloomberg business news
Dow Jones Surges Most in One Day Since 1933Source: Bloomberg.
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U.S. stocks had the best day in almost a dozen years as investors rediscovered their appetite for risk with Congress closing in on an unprecedented spending bill to prop up the slumping economy. The dollar halted a 10-day winning streak.

The S&P 500 rebounded from the lowest level since 2016, notching a third straight Tuesday turnaround -- and the biggest one-day gain since October 2008 -- after starting the week with a rout. The Dow Jones Industrial Average rose more than 11% to clock its biggest advance since 1933.