Dow jumps over 500 pts premarket as Trump pledges payroll tax cut
The Dow Jones surged over 500 points on Monday following United States President Donald Trump’s announcement of possible “major” payroll tax cuts, which will be discussed tomorrow in the Senate. During the same briefing, Treasury Secretary Steven Mnuchin asserted the US has “the most resilient economy in the world” and that the government will use all available tools to ensure the financial stability of small businesses and companies hit the hardest by the outbreak.
The Dow jumped 2.37% or 563 points at 7:53 pm ET, while the Nasdaq 100 soared by 2.34% at the same time. A minute later, the S&P 500 surged 2.48%.
The euro traded 0.43% lower against the dollar, changing hands for $1.14003 at 7:54 pm ET.
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