US stocks rebounded Tuesday from a historic crash after President Trump promised a fiscal stimulus to stanch the economic bleeding from the coronavirus outbreak.

The Dow Jones industrial average jumped as much as 873.87 points, or 3.6 percent, at the open, signaling a comeback from Monday’s massive market rout that gave the blue-chip index its worst single-day decline ever.

The S&P 500 and Nasdaq composite also jumped as much as 3.4 and 3.6 percent, respectively, in early trading following President Trump’s Monday evening pledge of “very dramatic” measures to protect workers and businesses from the coronavirus crisis, including a payroll tax cut and sick leave funding.

“In times of turmoil, nothing is more important in restoring confidence, than the government appearing calm and in control of the situation, how tenuous that control may be,” Jeffrey Halley, senior currency analyst at OANDA, wrote in a Tuesday commentary.

Trump and Vice President Mike Pence, the head of the government’s coronavirus task force, “seem to have pulled that feat [off] this morning,” Halley said.

Hopes of a stimulus sent Dow futures up more than 1,000 points for part of Tuesday morning. But they pared the gains after CNBC reported that the White House was not ready to announce a specific economic plan. “A lot of details need to be worked out,” one official told the network.

The Dow shed more than 2,000 points and the S&P suffered its worst day since December 2008 on Monday after Saudi Arabia said it would boost oil production and slash prices, which caused crude oil prices to plummet. The nascent price war came on top of fears about the coronavirus outbreak hurting the global economy.

Crude oil recovered Tuesday, with Brent crude futures recently jumping 8.3 percent to $37.24 a barrel. West Texas Intermediate futures were recently up 8.7 percent at $33.85 a barrel after plunging 25 percent Monday.