The stock market continued to rally today as optimism about a successful reopening of the economy and a potential coronavirus vaccine continues to build on Wall Street by skleb1234
The market opened higher on Wednesday amid optimism about a successful reopening of the economy and a potential coronavirus vaccine, but stocks moved lower after a drop in tech shares offset gains.Colin Ziemer/NYSE via Getty ImagesThe Dow Jones Industrial Average was up 0.6%, over 150 points, by late Wednesday morning. The S&P 500 turned negative, down by 0.2%, and the Nasdaq slid 1.3%.
Tech stocks, like Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all fell by over 0.5%, dragging the market lower. The European Commission announced plans on Wednesday for a $826.5 billion recovery fund to help deal with the economic fallout from the coronavirus pandemic. Stocks have been moving higher thanks to increasing optimism on Wall Street, with states beginning to reopen businesses and several companies working on potential coronavirus vaccines.
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