Egypt’s decision cuts interest rates, amid global economic crises

NEW YORK – U.S. stocks rebounded on Tuesday, following a historic drop in the previous session, amid hopes for further stimulus measures to counter the coronavirus impact.

The Dow Jones Industrial Average finished up 1,048.86 points, or 5.20 percent, to 21,237.38. The S&P 500 increased 143.06 points, or 6.00 percent, to 2,529.19. The Nasdaq Composite Index rose 430.19 points, or 6.23 percent, to 7,334.78.

All the 11 primary S&P 500 sectors ended higher, with utilities up 13.11 percent, outpacing the rest.

The Trump administration on Tuesday expressed its intent to offer cash payments for working Americans as part of an economic stimulus package amid coronavirus fallout.

“We’re looking at sending checks to Americans immediately,” U.S. Treasury Secretary Steven Mnuchin said at a White House press briefing.