U.S. stocks rebounded from the worst day since 1987 amid signs policy makers around the world are taking action to stave off the economic fallout from the coronavirus. Oil jumped.
The S&P 500 surged 5.6% at the open after plunging 9.5% Thursday in the biggest rout since 1987 and fifth worst on record. European equities jumped 7%, the dollar surged and stress in the credit markets showed some signs of easing.
After days of no or inadequate action, policy prescriptions came fast Friday, with reports Congress is near a deal on a spending bill.