US stocks jump as fears recede of global hit from virus | Malay Mail

Traders working the floor of the New York Stock Exchange on January 31, 2020 in New York, United States. — AFP pic

Major US indices were up more than one per cent, with analysts citing economic stimulus measures by the People’s Bank of China as cushioning the blow in that country, as well as the extremely limited spread of the ailment so far in the United States.The broad-based S&P 500 gained 1.2 per cent to 3,289.00, while the tech-rich Nasdaq Composite Index advanced 1.3 per cent to 9,397.35.

But a note from Charles Schwab pointed out that, based on past disease outbreaks, a “short-term dip in stocks tended to be followed by the continuation of the upward trend.”

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