Stock market recovering from Monday's ugly losses

Posted at 9:58 AM, Mar 17, 2020

The Dow Jones traded below 20,000 for the first time since 2017 on Tuesday, but appeared to have stemmed some of the bleeding after Monday's 3,000 point loss.

After an early peak, the Dow sunk about 200 points shortly after opening, leaving the markets trading at less than 20,000. But as Trump administration officials spoke about their plan to give cash directly to Americans as part of a stimulus plan, the market rallied. As of 1:45 p.m. ET, the markets were up about 600 points.

According to The Associated Press, markets were buoyed by rumors of the Trump administration's plan to propose an $850 billion stimulus package that would relieve small businesses and the airline industry.

Trading was halted for 15 minutes on Monday for the third time in a week after the Dow fell 7 percent and triggered a "circuit-breaker." The markets remained in the red throughout the day and plummeted in the final moments of trading.

Though the 3,000 point loss was worse than that of the 1987 Black Monday crash, it still paled in comparison to Black Monday's percentage loss. On Oct. 19, 1987, the Dow experienced a 22 percent loss.