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March 22, 2023

Big gains on Wall Street

By STAN CHOE and ALEX VEIGA
AP Business Writers

NEW YORK — Stocks rallied Tuesday, led by the banks most beaten down by the industry's crisis, and some of Wall Street's fear washed out on hopes the U.S. government will offer more help if needed.

The S&P 500 jumped 1.3% to lock in its first back-to-back gain since Silicon Valley Bank's quicksilver failure began two weeks ago. The Dow Jones Industrial Average rose 316 points, or 1%, while the Nasdaq composite jumped 1.6%.


 
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