Amazon (AMZN) stock jumped more than 30% Thursday after a new round of regulatory actions on Wall Street, sending its stock price to record highs.
Shares of the online retail giant rose nearly 3% to $2,061.35 after the new regulatory guidance, while the Dow Jones Industrial Average (DJIA) jumped 5.6% to 20,000.
The Wall Street Journal reported that the new rules would allow banks to keep large chunks of their money in cash to avoid an emergency cash shortage in the event of a stock market selloff.
The Dow Jones dropped more than 5% to 22,000 as of 11:45 a.m.
The S&P 500 index closed up 2.4% to 2,890.75.
The Nasdaq composite index of 500 companies closed up 0.7% to 5,852.35.