US and European stocks pull away from losses as investors keep an eye on an earnings-heavy day stateside.The Dow Jones Industrial Average turned lower on virus risk fears on Monday, going negative for 2020.The Wuhan virus has infected more than 2,700 people and killed 80.Major stocks pulled away from sharp losses on Tuesday as investors take stock of the impact of coronavirus on world economy and look ahead to an earnings-heavy week stateside.
"The Dow Jones nosedived into its biggest daily drop in four months, going negative for the year. You would expect some let-up after such a big move lower and indeed futures are indicating a higher open," Jasper Lawler, head of research at London Capital Group said in a note on Tuesday morning. Asian stocks continue to suffer. The S&P ASX, Australia's Benchmark Index closed 1.26% lower and Japan's Nikkei down 0.85%. Stock markets in China and Hong Kong remained closed due to Chinese New Year.
Crude oil prices, that were down more than 2% on Monday, continued to struggle, however recovering slightly. On Tuesday morning,According to Reuters
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