- The Washington Times - Friday, March 13, 2020

Stocks rallied on Friday, recovering some of the losses from Wall Street’s worst day since 1987.

The Dow Jones Industrial Average rose more than 800 points, or nearly 4%, in the first hour of trading. The S&P 500 and the Nasdaq each were up more than 4%.

The rally came after reports that the administration and House Democrats were close to an agreement on providing economic and health care relief from the coronavirus.

The markets lost nearly 10% of their value on Thursday on concerns about the impact of the virus.

Treasury Secretary Steven T. Mnuchin, who has been negotiating with House Speaker Nancy Pelosi on a relief package, said President Trump “is looking at a major stimulus package.”

“This is a short-term issue, maybe a couple of months,” Mr. Mnuchin said on CNBC. “We’re going to get through this, and the economy will be stronger than ever. The president is determined we will do whatever we need.”

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