Dow futures gain 1,000 points after news of Trump's plan to propose a payroll tax cut
New York/Hong Kong Markets in Asia and Europe staged a recovery Tuesday, and the Dow soared 800 points a day after novel coronavirus fears and an oil price war sparked a worldwide panic.
The mood among investors was helped by news of President Donald Trump's plan to propose"significant relief" in the form of a payroll tax cut and help for hourly workers most affected by the coronavirus, or Covid-19, and expectations of more stimulus measures as the risks of a global recession rise.The Dow soared 3.3%. The S&P 500 rose 2.9% and the Nasdaq was up 2.7%.
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