Stocks Surge, Recouping Much Of A Historic Plunge, As Trump Announces New Measures To Fight Virus; Dow Up 1,900 Points

Traders work at the New York Stock Exchange, Friday, March 13, 2020. Stocks are opening sharply higher on Wall Street a day after the worst drop since 1987.(AP Photo/Mark Lennihan)

NEW YORK (AP) — Stocks surged, recouping much of a historic plunge, after President Donald Trump announced new measures to fight the coronavirus.

The Dow Jones Industrial Average jumped 1,985 points, or 9.4%, its best gain since October 2008. Stocks doubled their gains in the last half-hour as Trump made his remarks.

The rally came at the end of a week of turbulent trading fueled by heightened fears that the fallout from the coronavirus could bring on a global recession. Thursday’s drop was the worst since the Black Monday crash of 1987. Investors have been clamoring for strong action from the U.S. government to combat the economic impact.

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