US equity markets staged a powerful rally a day after both the Dow and S&P500 suffered their largest single session declines since the October 1987 crash. All three benchmarks booked their best one-day gains since 2008. Dow up +1,985-points or +9.36%, climbing back above >23,000 after logging its biggest points gain ever. . Microsoft Corp fell -3% in extended trade (after closing the regular session up +14%) after co-founder Bill Gates announced late in the session that he was stepping down from the boards of the software giant and Berkshire Hathaway. Microsoft said in a statement that Mr Gates will dedicate more time to philanthropy, and continue to serve as technology adviser to Chief Executive Satya Nadella. The broader S&P500 +9.29%, with the index posting 16 discernible intra-session swings of at least 1% over the six-and-half-hours of trading. NASDAQ +9.35%. Apple Inc and Facebook Inc both jumped more than >10% to lead the FAANG stocks higher. Google-parent Alphabet Inc gained +9.3%, with President Trump announced that the search giant would develop a website to help individuals determine whether they need a coronavirus test or not.
