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Dow logs first back-to-back gain in 7 weeks, but stocks stumble badly at the close as $2 trillion coronavirus rescue hits snag

The Dow Jones Industrial Average on Wednesday booked its first back-to-back gains in about seven weeks as investors have waded back into a battered market, but stocks lost ground in the final few minutes of trade as problems cropped up in the last leg of passage of a $2 trillion coronavirus rescue package. Sen. Bernie Sanders of Vermont, an independent, threatened to delay the bill over a key unemployment-insurance proposal, according to reports. A group of Republican senators also opposed aspects of the bill, with Ben Sasse, Tim Scott and Lindsey Graham saying they would delay a Senate vote, according to reports, over those issues. The Dow closed up 495 points, or 2.4%, at 21,200, but the index had been as high as 22,019.93 with about a half-hour left in regular trade before reports of challenges to aspects of the rescue bill were reported. The S&P 500 index rose 28 points, or 1.2%, at 2,476, while the Nasdaq Composite Index finished 0.5% lower at 7,384. All three major benchmarks closed well off their intraday peaks. Investors have been eager to see the government commit to further aid for the economy as the growing coronavirus pandemic has shut factories, sent…


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