The rebound in US stocks continues on Tuesday with the Dow jumping more than 400 points. US markets have been resilient this week in the face of the global coronavirus outbreak.
It's an abrupt turnaround for markets. Stocks had sold off sharply last week amid worries about the economic impact of the virus. But stocks began to retrace their sharp losses on Monday.The Dow was up 450 points or 1.6% in late morning trading. The S&P 500 rose 1.5%, while the Nasdaq Composite was up 1.7%. And the rally isn't just confined to US markets: global equities are all in the green, and even Chinese markets, which recorded their worst day in years Monday, bounced back.
China is the world's second-largest economy and is considered the engine for the global economic growth. With a central bank willing to lend a hand, the repercussions from the outbreak could be much more manageable.ContainmentThe coronavirus has now infected more than 20,000 people and claimed more than 400 lives, but the rate of new infections appears to have slowed down.
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