900 Points Surge From Dow Jones

900 Points Surge From Dow Jones

In evaluating the latest news about the Wall Street coronavirus outbreak, stocks fell on Tuesday and had a major rally earlier in the day. Dow Jones Industrial Average is 26.13 points lower or 0.1% at 22.653.86 level. The average of 30 stocks rose 937.25 points, or 4.1%, at the highest of the session. The S&P 500 ended at 2.659.41 with a 0.2% lower value after a day of less than 3%. Nasdaq Composite fell 0.3% after the 3% rally to 7.887.26. The roundup on Tuesday followed a massive rally in the previous session, where Dow had the third biggest point gain. Some investors believed that stock prices prevented the fact that coronavirus closings in the second quarter could significantly weigh the economy. Major averages rose about 20% from their lowest level on March 23. “The downside risk is greater than the upward exit opportunity from this point where we stand today,” said David Kostin, chief equity strategist at Goldman Sachs. “I need to remind you that there were many different rallies in the fourth quarter of 2008, some of them almost 20% of the market, the market rallies a few times I'm doing - but didn't hit bottom until March 2009 of the month.” As investors manifested positive developments on the coronavirus, large averages were collected early in the day. The number of new cases in the US seems to have dropped from their last peak in recent days. Andrew Cuomo, Governor of New York on Tuesday, reported the state's biggest one-day jump in deaths, but hospitalizations slowed. Italy and Spain, two of the hardest affected countries, also see new cases falling.