By Staff Reporter
Posted on 03/19/20
| News Source: FOX Business
U.S. equity markets battled back from steep losses early Thursday and were on track to retain the remnants of their gains from the Trump era.
The Dow Jones Industrial Average turned higher after a drop of 721 points, or 3.6 percent, shortly after the open. If the Dow were down at least 166.52 points at the close of trading, that would erase the entirety of its once-sizeable increase since President Trump was sworn into office on Jan. 20, 2017.
The S&P 500 and Nasdaq composite, which also posted steep losses earlier, rallied too.
Thursday's action comes after President Trump signed a second coronavirus measure into law on Wednesday evening, which provides paid sick leave, unemployment help and free testing to Americans.
The COVID-19 pandemic has sickened 9,415 people in the U.S. and killed 150, according to the latest figures from Johns Hopkins University & Medicine.
The impact of “shelter in place” orders, social distancing between people, the cancellation of non-essential travel and the closure of many restaurants and bars has started to show up in economic data. Read more at FOX Business