U.S. Stocks Rally After Coronavirus Rout

Stocks on Wall Street rebounded on Wednesday, recovering from back-to-back losses this week that had wiped more than 6 percent off the SP 500.

Investors have been contending with the potential for the coronavirus outbreak to disrupt global trade and slow growth, and stock prices around the globe have reflected concerns about the virus’s spread outside of China.

Wednesday’s recovery came after stocks in the United States fell 3 percent on Tuesday and suffered their worst one-day slide in two years the day before. Major markets in Europe were also higher after days of selling, though stocks in Asia mostly drifted lower on Wednesday.

The virus outbreak that began in China has now infected more than 80,000 people and killed more than 2,700 around the world. Authorities in Italy are struggling to contain an outbreak that is threatening to disrupt Europe’s fourth-largest economy. Greece and Brazil reported their first cases. Iran has seen dozens of deaths from the virus, with cases spreading across its borders throughout the Middle East. South Korea is working to manage the largest outbreak outside of China, with more than 1,200 reported cases.

Article source: https://www.nytimes.com/2020/02/26/business/stock-market-coronavirus.html