Stimulus hopes buoy Wall Street after rout; Dow Jones, S&P rise over 4%

The Dow Jones Industrial Average was up 286.22 points, or 1.20 per cent, at 24,137.24, and the S&P 500 was up 40.30 points

Wall Street roared back to life on Tuesday, rebounding from the brink of bear market confirmation as bargain-hunting and hopes of government stimulus calmed investors' fears surrounding the coronavirus and growing signs of imminent recession.

All three major indexes jumped nearly 5% the day after equities markets suffered their biggest one-day losses since the 2008 financial crisis.

Still, the S&P 500 and the Nasdaq ended the session about 15% below the record closing highs reached on Feb. 19. Sinking beyond the 20% mark would confirm a bear market.

US President Donald Trump said he will take "major