New York (AFP)

The New York Stock Exchange ended sharply higher on Tuesday, rebounding sharply in the aftermath of one of the worst sessions in its history as the White House and the American central bank presented new measures to support the economy.

Its star index, the Dow Jones Industrial Average, gained 5.20%, to 21,237.38 points, after a start of session sawtooth which saw it temporarily fall below the symbolic bar of 20,000 points.

It had collapsed the day before by 12.9%, its largest drop since Black Monday in October 1987.

The Nasdaq, the highly technological index, which fell 12.3% on Monday, climbed 6.23% to 7,334.78 points. The S&P 500 broad index rose 6.00% to 2,529.19 points.

After hovering between opening losses and gains, the indices began to gain momentum when the US central bank announced that it would provide credit facilities for businesses and households in an effort to stem the tide. economic impact of the coronavirus pandemic in the United States.

To ensure that the markets have enough liquidity, the antenna of the Federal Reserve of New York also organized Tuesday a new injection of money by offering 500 billion dollars on the money market.

The indices then amplified their progression after the start of a press conference at the White House.

The American secretary of the Treasury, Steven Mnuchin, announced in particular that the administration would send checks to help the Americans affected by the coronavirus crisis within two weeks.

According to American media, the administration is preparing an economic recovery plan of up to $ 850 billion.

As a sign of more confident investors, the rate on the United States' 10-year debt jumped Tuesday and fell back above the 1% mark. It was evolving around 20:15 GMT at 1.067% against 0.718% the day before.

Panic over the inexorable advance of the coronavirus pandemic had prevailed on Monday over the massive efforts made by the American central bank to try to reassure the markets.

But on Tuesday, the advance in the indices "was buoyed by the hope of seeing Congress adopt a package of measures to help the economy", by "the aid promised by the Fed to businesses and households" as well as by " the promises of US President Donald Trump on further action, "said Karl Haeling of LBBW.

"We are far from a calm optimism," said the specialist, however.

"We have no idea what will happen in the short term, not being able to anticipate the results of the companies at all makes many market players stay on the sidelines," he added.

© 2020 AFP