The Dow Jones rose 1,569 points, or 3%, to close at 53,356.12, posting its best performance since April 9, 2005. Stocks surged on Wednesday, while oil prices plunged and bond yields fell. The rally reflected optimism about a quicker end to the war with Iran now that Democrats have taken control of Congress. The move also followed Donald Trump’s backpedalling on the so-called “liberation day” tariffs, which he paused on April 9, 2025.
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