Us stocks rally as Trump, business leaders pledge support

Us stocks rallied Friday, rebounding from their worst day in more than 30 years, after President Trump said leaders of private companies in the United States had agreed to help with efforts to test for the coronavirus, and declared a national emergency that would free billions in funding to fight the epidemic.

The S&P 500 rose more than 9 percent, making Friday its best day since 2008, with most of the gains coming late in the day as government officials and business executives spoke at a news conference at the White House.

Though he was short on details, Mr. Trump said the administration was working with Google to develop a website to determine whether an individual needs a test — a move aimed at avoiding overwhelming the health system with people who are ill but do not necessarily need to be tested for coronavirus. Google later said the site would initially only be used around San Francisco, “with the hope of expanding it more broadly over time.”