Here's what happened to the stock market on Thursday

China said it confirmed 15,152 new cases and 254 additional deaths. That brings the country's total death toll to 1,367 as the number of people infected jumped to nearly 60,000, according to the Chinese government.

Stocks initially sold off on the news, but later recovered most of those losses. Some equity investors are betting the worst is over as it relates to the coronavirus. However, they may be in for a surprise if the situation worsens, further hurting the global economy.

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