- The Washington Times - Tuesday, March 24, 2020

Stocks skyrocketed Tuesday as the White House closed in on a $1.8 trillion economic relief package for businesses and workers idled by the coronavirus pandemic, and President Trump suggested the nationwide shutdown could end in less than three weeks.

The Dow Jones Industrial Average surged 2,112 points, or 11.3%, to close at 20,704. It was the Dow’s biggest single-day jump in points since March 1933.

The S&P 500 soared 9.3%, and the Nasdaq jumped 8.1%.

Treasury Secretary Steven T. Mnuchin and Senate Democratic leader Charles E. Schumer of New York said they were nearing an agreement on the aid package after several days of partisan wrangling and two Senate votes that failed to advance the measure.

Mr. Schumer said around lunchtime that negotiations were on “the 2-yard line.”

Mr. Trump also said Tuesday that he wants most Americans to go back to work by Easter.

Since the outbreak took hold in the U.S. last month and oil prices plummeted, stocks have fallen more than 30% from their all-time highs in mid-February.

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