Senator Bernie Sanders, a Vermont independent candidate and presidential candidate for 2020, leaves the US Capitol after a vote in Washington, D.C., United States, on Wednesday, March 18, 2020.
Al Drago | Bloomberg | Getty Images
Dow Jones Industrial Average wins 779 points
The Dow Jones gained 779.71 points, or 3.44%, to close at 23,433.57. The S&P 500 climbed 3.41% to 2,749.98. The Nasdaq Composite rose 2.58% to 8,090.90. Actions jumped after Senator Bernie Sanders stepped down from the presidential race, allaying some of Wall Street’s political concerns amid the economic crisis stemming from the coronavirus.
Bernie Sanders drops out
Sanders made his announcement late in the morning. Some of Sanders’ policy proposals, including Medicare for All, have raised concerns among several business owners and investors who feared taxes would rise under his presidency. Meanwhile, Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told Fox News on Wednesday that the number of coronavirus deaths in the United States is now lower than initially thought, noting that there should be a turnaround after this week.
Travel and energy stocks surge
What happens next?
The weekly unemployment claims are expected to be released Thursday morning along with data on consumer sentiment.
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