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US stocks surge after Washington reaches historic rescue deal
Wall Street extended gains on Wednesday after a historic surge in the previous session that saw the Dow Jones Industrial Average soaring more than 2,000 points in its best one-day percentage gain since 1933.
The Dow jumped 700 points from the opening bell, while the S&P 500 and Nasdaq Composite traded in positive territory.
On Wednesday, the US Senate and the White House reached a deal on a massive $2 trillion relief bill to combat the economic impact of the coronavirus outbreak.
“At last we have a deal,” said Republican Senate Majority Leader Mitch McConnell following the agreement of the coronavirus stimulus deal. “In effect, this is a war-time level of investment into our nation.”
Democratic Senate Minority Leader Chuck Schumer added: “This is not a moment of celebration but one of necessity.”
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