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Stocks rebound on stimulus hopes after worst day since 1987

Stocks recovered Friday following a brutal week of selling after President Donald Trump declared a national emergency to free up about $50 billion in federal aid to fight the fast-spreading coronavirus.

Investors were also anticipating an aid package from Washington, a move that investors hope can stem the economic damage from the global pandemic. 

House Speaker Nancy Pelosi said the House would move forward with a vote Friday. The bill would include free virus testing for all Americans, including the uninsured, as well as two weeks of paid sick leave for those who have to skip work due to the virus. It would also included expanded federal food assistance, such as seniors’ meals, student lunches and food banks.

Stocks stabilized after Wall Street’s worst day since the “Black Monday” crash of 1987. The Dow Jones industrial average jumped 1,600 points, a day after plunging 2,352 points, or 10%, for its worst loss since its nearly 23% drop on Oct. 19, 1987. 

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