Stocks jump on hopes of coronavirus treatment, Dow up 600 points

By Fred Imbert

Stocks jumped Wednesday on the back of positive data from a potential coronavirus treatment from Gilead Sciences, while investors digested a sharp drop in U.S. economic activity. 

The Dow Jones Industrial Average surged 622 points, or 2.6%. The S&P 500 gained 3.1% while the Nasdaq Composite traded 3.9% higher. The major averages held onto their gains after the Federal Reserve pledged to keep rates lower for as long as needed.

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