Overseas markets were also higher. The price of oil also bounced back 8 per cent after cratering a day earlier as an oil price war broke out between Saudi Arabia and Russia. Energy stocks did especially well following steep falls a day earlier. Feeling less fearful, investors pulled money out of ultra-safe U.S. government bonds. The yield on the 10-year Treasury note rose to 0.65 per cent.Global stock markets rebounded Tuesday from record-setting declines after U.S.
The mounting losses and a flight by investors into the safe haven of bonds have fueled warnings the global economy, which already was showing signs of cooling, might be headed into a recession. The Shanghai Composite Index rose 1.8 per cent to 2,996.76 and the Nikkei 225 in Tokyo advanced 0.9% to 19,867.12. Hong Kong's Hang Seng climbed 1.4 per cent to 25,392.51.Benchmark U.S. crude jumped 8.5 per cent, or $2.65 to $33.78 per barrel in electronic trading on the New York Mercantile Exchange. It lost 25 per cent on Monday after Saudi Arabia and Russia engaged in a price war in the oil market. The Saudis confirmed Tuesday that they will increase production to record levels.
For most people, the coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. The vast majority of people recover from the virus, as has already happened with about three-quarters of those infected in China.
The stock market has a life of its own, no one has the crystal ball for predictions. Day traders usually get burnt big time.
It's all just theatrics.
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