Stocks jump 5% as hopes build for virus stimulus package

Associated Press

NEW YORK (AP) — Stocks are opening sharply higher on Wall Street Tuesday as hopes build that Congress will agree on a big coronavirus relief bill. That would follow more aggressive steps from the Federal Reserve annouunced a day earlier to support lending and bond markets. Major U.S. indexes jumped more than 5% in the first few minutes of trading, and European and Asian markets also surged. The lurch higher was the latest dizzying move for markets, which are still down by more than a third from their record highs reached a month ago as the economic damage from the coronavirus becomes more and more severe.