Global Economy

Asian stocks poised for gains after Wall Street skyrockets


In market action stateside, stocks saw major gains. The Dow Jones Industrial Average posted its largest single-day point gain in history, jumping 1,086.25 points, or 4.98 percent, to close at 22,878.45. Wednesday’s gain also marked the biggest upside move on a percentage basis for the Dow since March 23, 2009, when it rose 5.8 percentage points.

The S&P 500 also catapulted 4.96 percent — its best day since March 2009 — to finish the trading day at 2,467.70. The Nasdaq Composite also had its best day since March 23, 2009, soaring 5.84 percent to close at 6,554.36.

Wednesday marked the biggest post-Christmas rally for U.S. stocks ever.

Because U.S. exchanges were closed Tuesday for the holiday, the moves on Wall Street followed Monday’s sharp sell-off, which sent the major indexes down more than 2 percent and ended with the S&P 500 falling into a bear market. The S&P 500 was down 20.06 percent from an intraday record high set on Sept. 21 before Wednesday’s sharp rebound.



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