US financial markets rise after volatile week

Coronavirus

Trader Peter Tuchman works on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)

U.S. financial markets opened up slightly on Friday, possibly on news of government actions taken to help quell investors’ ongoing anxieties over the coronavirus crisis.

The Dow Jones Industrial Average saw opening jump of approximately 300 points, or about 1.5%. The S&P 500 similarly saw an opening rise of just over 1%. The Nasdaq spiked more than 2% at open.

Unprecedented volatility has plagued Wall Street for weeks amid the global coronavirus pandemic.

Traders work on the floor of the New York Stock Exchange in New York, March 20, 2020.Traders work on the floor of the New York Stock Exchange in New York, March 20, 2020.Lucas Jackson/Reuters

Amid the financial uncertainty, the Federal Reserve has pulled out all the stops to help boost the economy. The Fed announced approximately half a dozen actions it would take — including everything from slashing interest rates and launching a short-term lending facility.

Lawmakers also pledged to quickly approve a $1 trillion COVID-19 economic stimulus package that would send $1,200 checks to Americans making up to $75,000 per year, based on their fiscal year 2020 tax filing.

The coronavirus pandemic has also pushed the Dow, S&P 500 and Nasdaq into bear market territory.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss

More Don't Miss