Stocks Drop, but Hold on to Weekly Gains After Big Rally

Stocks are closing more than 3% lower on Wall Street, giving back part of the gains they piled up over the past three days.

A rally this week pushed the S&P 500 up 10% as traders became hopeful that a $2 trillion relief bill would ease the severe economic damage being caused by shutdowns related to the coronavirus.

The House passed the bill Friday afternoon and President Donald Trump was due to sign it later in the day.

Even after the rally this week the market is down 25% from the peak it reached a month ago.

Oil prices fell again.