Stocks open sharply higher on Wall Street after worry over coronavirus and oil prices led to the market's worst day since the financial crisis.
A woman wearing a protective face mask walks by the investment icon bull statue on display outside a bank in Beijing, Tuesday, March 10, 2020. Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain of the virus outbreak.
Anxiety mounted after Italy, the hardest-hit place in Europe, said travel controls imposed earlier on its north would be extended nationwide. Ireland canceled St. Patrick’s Day parades and Israel ordered visitors quarantined ahead of Passover and Easter, one of the busiest travel periods of the year.
In European trading hours, London’s FTSE 100 was up 3.8% to 6,193 and Frankfurt’s DAX advanced 3.2% to 10,965. The CAC 40 in France gained 3.8% to 4,885. While the virus outbreak is easing in China, where the virus was first detected, fast-growing clusters have turned up in South Korea, Japan, Iran and Italy, and the caseload is growing in the United States.
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