Nasdaq Hits Record in Nearly 2 Weeks, Wall Street Rises Since Start of Coronavirus Scare

NEW YORK (Sputnik) - Stocks on Wall Street rose the most in a day since the start of the novel coronavirus outbreak, with the Nasdaq index for US technology stocks hitting its first record high in nearly two weeks on Tuesday.

Wall Street’s top barometer, the S&P 500 index, rose 1.9 percent - its biggest daily advance since 8 August, to close at 2,938.

The S&P500, which tracks the top 500 stocks on the New York Stock Exchange, rallied as global markets rose on stimulus measures introduced by China to boost an economy slowed down by the novel coronavirus outbreaks, which has so far infected more than 24,000 of its citizens and killed 490.

The Nasdaq closed up 2.1 percent at 9,468, after a record high at 9,485. The tech-heavy index’s previous all-time high was on 24 January.

The broadest US stocks gauge, the Dow Jones Industrial Average, settled up 1.4 percent at 28,809.