The Dow Jones Industrial Average rose 1,086 points, gaining nearly 5 percent, the biggest point gain in history, Wednesday afternoon after a rough Christmas Day.
The Dow Jones also had the biggest upside move on a percentage basis since March 23, 2009, according to CNBC. This comes as the stock market had its worst week in nearly 10 years from Dec. 17 through Dec. 21, dropping over 400 points.
Senate Minority Leader Chuck Schumer and House Minority Leader Nancy Pelosi released a joint statement Monday, saying that President Donald Trump “is plunging the country into chaos” and “the stock market is tanking and the president is waging a personal war on the Federal Reserve.” (RELATED: Pelosi And Schumer: ‘Trump Is Plunging The Country Into Chaos’)
Traders and financial professionals work ahead of the closing bell on the floor to he New York Stock Exchange (NYSE), Dec. 20, 2018 in New York City. (Photo by Drew Angerer/Getty Images)
“Investors went bargain shopping the day after Christmas, where stocks just got too cheap relative to earnings, future earnings, any reasonable assessment of earnings,” Chris Rupkey, managing director of MUFG, said to CNN. “The coast is clear, back up the truck, investors are saying enough already, the world is not ending.”
Wednesday was also the biggest post-Christmas comeback for the stock market ever, CNBC reported.
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