US stocks temporarily recovered thanks to improving sentiment

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Businesses across China are currently resuming operations, and the tourism industry is “frozen“ as Chinese officials try to stop the spread of the Wuhan virus.
US stocks temporarily recovered thanks to improving sentiment
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The US stock market regained some of its lost points on Tuesday when concerns about the possibility of the Wuhan virus temporarily cooled down. Earlier on Monday, the global stock market had a very deep decline.

At the same time, investor sentiment also improved after receiving positive business results from a series of businesses.

Closing the session on Tuesday, the Dow Jones industrial index rose 187.05 points, or 0.7%, to 28,722.85 points. The S&P 500 index increased by 32, and 61 points equal to 1% to 3,276.24 points. The Nasdaq increased 130.37 points or 1.4% to 9,269.68 points.

Earlier on Monday, the Dow Jones Industrial Average fell 453.93 points, or 1.6%.

The S&P 500 index decreased by 51.84 points, equivalent to a 1.6% decrease. The Nasdaq closed at 9,139.31, or 1.9%, and thus had the deepest decline day since August 23, 2019.

Chinese officials on Tuesday announced that the number of deaths from the Wuhan virus increased to at least 106, while the number of separate infections in China increased to more than 4,500.

The Chinese economy, which had been growing weaker since then, is likely to suffer a new sho‌ck. Enterprises across China are currently resuming operations, the tourism industry is "frozen" as Chinese officials try to stop the spread of the Wuhan virus, according to the South China Post. shining.

Head of market research at JP Morgan, Joyce Chang, pointed out: “Although the Wuhan pandemic is a factor that causes unexpected risks and will likely adversely affect the market if the situation worsens. . But compared to the outbreak of acute respiratory infections in 2003, there were many important differences.

According to Mr. Chang, the first Chinese government acted much faster this time. Secondly, the mortality rate due to the Wuhan pandemic now remains low, about 3% compared to 10% of SARS, in addition, the majority of deaths mainly occur in the elderly with many symptoms. from the previous disability.

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