- On Tuesday European stocks markets finished in the red again after they could not maintain their early positive sentiment.
- US stocks: Following the worst day on Wall Street since the 2008 financial crisis, stocks showed wild swings over the course of the trading session before eventually finishing the day sharply higher.
- Asian stocks recovered from an early slide to end higher after U.S. President Donald Trump said he would seek measures to help virus-hit businesses.
- The coronavirus outbreak could cost the global economy up to $2 trillion this year, the UN’s trade and development agency said, warning that shock from the epidemic will cause a recession in some countries and depress global annual growth to below 2.5%.
- The dollar index rebounded on Tuesday from its lowest level in over a year hit in the previous session, as traders welcomed signs that the White House is considering significant fiscal stimulus to soften the economic impact from the coronavirus outbreak.
- Stock futures in the US were up on Tuesday as investors welcomed President Trump announcement of a possible payroll tax cut or relief, a measure aimed to protect the economy against the impact of the spreading coronavirus outbreak. The President said he will meet with Congressional Republicans to discuss the measure and that more details will be delivered on Tuesday. Vice President Mike Pence also added that the administration will discuss with the Congress providing paid sick leave to workers. Dow Jones and Nasdaq futures were up more than 4% and contracts on the S&P 500 have been suspended for some time after gaining 5%. On Monday, Wall Street sold off once again and suffered its worst trading session since the 2008 financial crisis. The Dow Jones plummeted 2014 points, the S&P 500 226 points and the Nasdaq 625 points.
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