Watch live: SEC's Jay Clayton testifies at House subcommittee hearing on markets and lending in Covid era

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SEC Chairman Jay Clayton is testifying in front of the House Financial Services Subcommittee on Thursday.

The hearing will center on "Capital Markets and Emergency Lending in the COVID-19 Era" and comes at a time of heightened market volatility given the uncertainty over the economy reopening and the rising number of coronavirus cases.

California, Texas, Arizona and Florida are among the states seeing massive spikes in coronavirus cases as they ease social distancing and quarantine measures. On Wednesday, the U.S. experienced its biggest one-day jump in cases on record, with over 45,000 new infections confirmed.

Stocks gyrated between sharp losses and solid gains on Thursday, with the Dow rising as much as 143.48 points, or 0.6%, and falling as much as 236.15 points.

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