Wall Street stocks jumped on Tuesday, gaining for a second straight session as fears eased over an economic hit from the coronavirus outbreak in China.[NEW YORK] Wall Street stocks jumped on Tuesday, gaining for a second straight session as fears eased over an economic hit from the coronavirus outbreak in China.
Major US indices rose more than one per cent, with analysts citing economic stimulus measures by the People's Bank of China for cushioning the blow in that country, as well as the extremely limited spread of the ailment so far in the United States. Despite more cases, the rise"was not enough to cause panic on Wall Street, or to increase the fear that China and other countries won't be able to get it under control," said Tom Cahill, portfolio strategist at Ventura Wealth ManagementThe broad-based S&P 500 advanced 1.5 per cent closing at 3,297.59, while the tech-rich Nasdaq Composite Index surged 2.1 per cent to 9,467.97.
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Source: The Straits Times - 🏆 8. / 63 Read more »