US Stocks Rebound After Trump Pitches Coronavirus Relief Plan to Lawmakers

Wall Street major indexes close about 5 percent higher; 10-year Treasury skyrockets by 40 percent

A trader works ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) in New York City, on March 18, 2019. Johannes Eisele/AFP/Getty Images

U.S. stocks rose sharply in volatile trading on March 10 after President Donald Trump met with Senate Republicans on Capitol Hill and emerged to deliver a message on a much-anticipated coronavirus relief plan.

All three major Wall Street indexes—the Dow, Nasdaq, and S&P 500—closed nearly 5 percent up. The rebound comes on the heels of a 7-percent slide on March 9 triggered by a crash in oil prices. The decline on March 9 came worryingly close to bear market territory, a condition where prices fall 20 percent or more from recent highs.