Ben Bernanke, the former Federal Reserve chairman who served before and after the 2008 financial crisis, told CNBC on Wednesday that the coronavirus economic halt is more like a natural disaster than a depression.
The Dow Jones Industrial Average rose sharply on Wednesday following a historic rally in the previous session in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.
The 30-stock average climbed more than 1,000 points, or 5%. The S&P 500 was up by about 3.2%. The Nasdaq Composite advanced 1.6%. Boeing shares rallied 30% to lead the Dow higher. A 10.3% gain in Nike also boosted the Dow.
The Dow soared more than 2,100 points on Tuesday, or over 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. The S&P 500 rallied 9.4% for its best day since October 2008.
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