It’s the 2nd anniversary of the stock market’s COVID bottom — Here’s how the rally stacks up
It’s the second anniversary Wednesday of the lows set in the U.S. stock-market plunge triggered by the COVID-19 pandemic in 2020.
Stocks have stumbled in 2022, but the S&P 500 SPX has more than doubled, rising 101.65% through Tuesday’s close, since the March 23, 2020, pandemic bottom at 2,237.40 — it’s best two-year rolling performance since 1937, according to Dow Jones Market Data. The chaos wasn’t confined to stocks. The Treasury market nearly seized up. The U.S. dollar DXY soared amid a global scramble for the world’s reserve currency. The Federal Reserve moved quickly to backstop credit markets and worked with other central banks to expand or establish dollar swap lines, moves that were credited with helping to steady the ship. Those moves were in addition to the Fed’s extraordinary monetary policy easing measures and fiscal stimulus from Congress.
Among individual stocks, Tesla Inc. TSLA led the way higher, up 1,044% over that stretch. The next closest gainer was Devon Energy Corp. DVN with a gain of 881% .
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White House press secretary Jen Psaki tests positive for COVID-19 for 2nd timeWhite House press secretary Jen Psaki positive for COVID-19, will not travel on Biden's Europe trip to discuss Ukraine.
Read more »
WHO: COVID-19 cases rise for 2nd straight week, deaths fallThe World Health Organization says the number of new coronavirus cases globally increased by 7% in the last week, driven by rising infections in the Western Pacific.
Read more »
WHO: COVID-19 cases rise for 2nd straight week, deaths fallThe number of new coronavirus cases globally increased by 7% in the last week, driven by infections in the Western Pacific, the WHO said. The rise is due to the more infectious omicron variant and the suspension of COVID-19 protocols in many countries.
Read more »
White House press secretary Jen Psaki tests positive for COVID-19 for 2nd timeWhite House press secretary Jen Psaki positive for COVID-19, will not travel on Biden's Europe trip to discuss Ukraine.
Read more »
Why doctors are struggling to treat COVID patients with pills, the future of COVID aid, and more COVID newsSenior administration officials say congress should provide the $22.5 billion President Joe Biden wants for continuing the battle against COVID-19 without cutting other programs to pay for it. Here's that and more virus news.
Read more »
U.S. Health Officials Tracking COVID Increase in U.K.
Read more »