- Title: Stocks rally 9% as Trump declares national emergency
- Date: 13th March 2020
- Summary: NEW YORK CITY, NEW YORK, UNITED STATES (MARCH 13, 2020) (REUTERS) (SOUNDBITE) (English) FINANCIAL FREEDOM WEALTH MANAGEMENT CORP. FOUNDER, JULIA CARLSON, SAYING: "Well, a relief rally. And also I think the concerns we all had yesterday, the fear and the anxiety and the worry that we wouldn't see another up day, but then here we get this today is just proof that this market is resilient. We will get past this. There will be more up days ahead."
- Keywords: Julia Carlson NYSE New York Stock Exchange coronavirus equities markets
- Reuters ID: LVA002C4W10EF
- Location: NEW YORK CITY, NEW YORK, UNITED STATES
- City: NEW YORK CITY, NEW YORK, UNITED STATES
- Country: USA
- Duration: 00:00:24
- Aspect Ratio: 16:9
- Topics: Economic Events,Equities Markets
- Story Text: Wall Street staged a furious rally in the waning moments of the session on Friday (March 13) after U.S. President Donald Trump declared a national emergency to combat the rapidly spreading coronavirus, although major averages still suffered sharp losses for the week.
In a volatile session, all three main indexes jumped more than 6% in early trading before paring to a gain of as little as 0.55% on the S&P 500 before rallying towards the close as Trump made the announcement with industry leaders of about $50 billion in federal aid to fight the disease.
The indexes were still about 20% below record highs hit in mid-February, and each saw declines of at least 8% for the week. Since hitting the highs, markets have been besieged with big swings in the market, nearly matching as many days with declines of at least 1% as all of 2019. Friday's surge was the biggest one-day percentage gain for the S&P 500 since Oct. 28, 2008.
(Production: Soren Larson)
- Copyright Holder: REUTERS
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- Embargoed:27th March 2020 20:20
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