(RTTNews) – While the tech-heavy Nasdaq remains sharply lower in early afternoon trading on Friday, the Dow has showed a significant turnaround.
After falling by more than 400 points at the start of trading, the Dow has climbed all the way back into positive territory and is currently up 12.78 points or 0.1 percent at 27,829.68.
The rebound by the blue-chip index was partly due to a statement from House Speaker Nancy Pelosi pledging to provide relief to the airline industry.
Pelosi claimed Congress would either pass stand-alone legislation to aid the airlines or include the relief as part of a broader stimulus bill.
The statement from Pelosi trigged a substantial turnaround by airline stocks, with the NYSE Arca Airline Index currently up by 1.1 percent after plunging by as much as 3.7 percent.
Meanwhile, the Nasdaq has climbed off its worst levels but remains down 168.96 points or 1.5