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WStocks Rise On US Stimulus Deal, Rally Fades Before US Open

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A currency trader walks by screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Tuesday, March 24, 2020. Asian stock markets gained Tuesday after the U.S. Federal Reserve promised support to the struggling economy as Congress delayed action on a $2 trillion coronavirus aid package. (AP Photo/Lee Jin-man)

(AP) — Japan’s Nikkei 225 has surged 8% and other world markets also largely rose after Congress and the White House reached a deal to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus. The advances Wednesday followed the best day since 1933 for the Dow Jones Industrial Average, which rocketed 11.4% higher on Tuesday. Wall Street futures were subdued, suggesting a cautious start to trading. The recent gains were a respite from a brutal month of nearly nonstop selling. But with cases of the virus still climbing, investors are leery of saying markets have hit bottom.

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