The Dow Jones Industrial Average had its best one-day percentage gain in nearly 90 years, soaring 2,093 points by the time markets closed on Tuesday as investors braced for Congress to finally pass the coronavirus stimulus bill.

The increase represented the index’s largest one-day surge since 1933, and was matched by similarly spectacular recoveries in the S&P 500 and Nasdaq. The S&P was up 9.4 percent, its best rally since October 2008, and the Nasdaq leapt 8.1 percent, the best day it has seen in weeks.

Stocks surged in anticipation of legislators reaching an agreement on the $2.5 trillion coronavirus stimulus package. The gains were led by Boeing, whose shares rallied more than 20 percent; the ailing aircraft manufacturer is expected to receive a bailout in the legislation, and Chevron, which led the Dow’s recovery with a gain of 22 percent.

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Source: RT