Dow Surges As Senate Passes $1.9T Coronavirus Relief Package

By Staff Reporter
Posted on 03/08/21 | News Source: FOX Business

U.S. equity markets ended mixed Monday, with the Nasadq entering a correction, after the Senate passed President Biden’s $1.9 trillion COVID-19 relief package and investors turned their attention to the pace of the economic recovery.

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The Dow gained 305 points or 0.97% as economically sensitive cyclical sectors like transportation and financials helped drive the gains. The blue-chip index briefly topped 32,000 for the first time before sliding back below the level.

In a 50-49 vote, the Senate passed its own version of Biden’s $1.9 trillion bill, which limits $1,400 checks to those making $75,000 a year or less and strips out a $15 minimum wage, among other things. The U.S. House of Representatives will vote on the measure as early as Tuesday. Read more at FOX Business