SAN JUAN — The U.S. stock market ended Wednesday with a rally as the hopes of a much quicker economic recovery eclipsed concerns over the heightened tensions between the U.S. and China.
U.S. Secretary of State Mike Pompeo declared that the United States no longer considers Hong Kong to be autonomous from China. The significance of this stance is that it will remove Hong Kong from its special trade status that allows it to be a significant financial and insurance hub.
The S&P 500 closed the day above 3,000 points for the first time in three months.
- The Dow Jones Industrial Average closed at 25,548.27, up 553.16 points, or 2.2%.
- The Standard & Poor’s 500 index closed at 3,036.13, up 44.36 points, or 1.5%.
- The NASDAQ Composite index closed at 9,412.36, up 88.01 points, or 0.94%.
- The Birling Capital Puerto Rico Stock Index closed at 1,452.66, up 56.45, or 4.04%