U.S. stocks surged again, with a violent rise in late trading!

China News Service, March 27: U.S. stocks surged again! On Thursday, Eastern Time, the three major U.S. stock indexes opened high and continued to rise, with violent surges in late trading. The Dow Jones Industrial Average closed up more than 1,300 points and the Nasdaq closed up 5.6%.

As of the close, the Dow Jones Industrial Average rose 1,351.62 points, or 6.38%, to 22,552.17; the Nasdaq rose 413.24 points, or 5.60%, to 7,797.54; and the S&P 500 rose 154.51 points, or 6.24%, to 2,630.07.

U.S. stocks surged again: the Dow Jones soared more than 1,300 points, and the Nasdaq closed up 5.6%

On the news front, data released by the U.S. Department of Labor on the 26th showed that due to the spread of the new coronavirus epidemic in the United States, the number of first-time unemployment claims in the United States soared to 3.283 million last week, a significant increase of 3.001 million from the revised figure of the previous week. The U.S. Department of Labor said that the previous record for the highest number of first-time unemployment claims in a single week in U.S. history was 695,000 in October 1982.

On the 26th local time, Federal Reserve Chairman Powell said in an interview with the media that the current situation is not a typical economic downturn. Once the coronavirus outbreak is under control, confidence will be restored. Powell noted that the Fed's measures are aimed at supporting credit. The top priority is to control the epidemic. When the economy can restart depends on the development of the epidemic. It is expected that the economy will recover in the second half of this year. While the economy is likely to fall into recession, the Fed has not yet run out of ammunition and still has policy space. Mortgage loans and car loans are areas that the Fed may be involved in.