NEW YORK: S&P 500 and the Nasdaq inched to their second consecutive record closing highs on Tuesday as Chinese officials said the deadly coronavirus epidemic could be contained by April.
But China’s foremost medical adviser on the outbreak said the crisis could be over by April, soothing jitters over the fast-moving epidemic, even as supply chains ruptured and Chinese firms began laying off workers. Powell’s remarks reiterated his view that the economy, in its 11th year of expansion, remains “resilient,” but that the central bank was closely monitoring potential risks, including the coronavirus.
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