Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
Photo: Timothy Clary/AFP via Getty Images
The stock market closed up more than 4% on Tuesday, recovering half of the losses from Monday's sell-off.
Between the lines: The Trump administration signaled it will work with Congress to try to shore up the economy amid concerns about the effects of the spreading coronavirus and collapsing oil prices.
By the numbers: The S&P 500 and Nasdaq Composite closed up 4.9%, while the Dow finished 4.8% higher (or 1,167 points).
- The yield on the U.S. 10-year treasury note jumped nearly 20 basis points — a reversal from the sharp drop in yields as nervous investors piled into government bonds, which are considered safe-haven assets.
The bottom line: The S&P 500 is about 15% below the record high hit in mid-February. A decline of 20% from record levels would end the market's record-long bull run.
Editor's note: This story has been updated to reflect the latest stock market developments.