What happened to the stock market Wednesday: Dow rallies to record


Traders work at the New York Stock Exchange (NYSE) in New York, U.S., December 31, 2019.

Bryan R. Smith | Reuters

Dow Jones Industrial Average rises 275 points

The Dow surged 275.08 points, or 0.94%, to close at 29,551.42. The S&P 500 gained 0.65% to end the day at 3,379.45. The Nasdaq Composite advanced 0.90% to 9,725.96. Stocks rose as investors shrugged off persistent worries about the coronavirus and whether it will hurt the global economy.

Record highs for Dow, S&P 500

The Dow and S&P 500 hit record highs despite the number of coronavirus cases increasing. However, some investors took solace in the fact that the number of new confirmed cases has declined to its lowest level since late…


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