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March 20, 2020
NEW YORK — Stocks capped a wobbly day on Wall Street with solid gains Thursday, reflecting cautious optimism among investors that emergency action by the U.S. government and central banks will cushion the global economy from a looming recession caused by the coronavirus pandemic.
The swings in the market were markedly less volatile than recent days. The Dow Jones Industrial Average gained almost 200 points, or 0.9%. The S&P 500 rose 0.5% after bouncing between a gain of 2.9% and a loss of 3.3% early. That would be a notable change in normal times, but the index has had eight straight days where it bounced up or down between 4.9% and 12%.
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