![]() In China, mainland stocks posted their biggest gain in three weeks with a rise of almost 3%, while Japan’s Nikkei soared 7%, its biggest daily rise since February 2016.īut investors were still wary, as global coronavirus infections have topped 350,000 and China posted a rise in new infections brought in from abroad. South Korea’s ravaged market climbed 8.6% after the government doubled a planned economic rescue package to 100 trillion won ($80 billion). Other countries are unveiling their own measures. stimulus deal, which Treasury Secretary Steven Mnuchin hoped was “very close”. There were also signs of progress in Congress on a $2 trillion U.S. second, they needed to make sure that there is a return of liquidity in the credit then it will be equities - in that sequence.”Īlongside buying unlimited amounts of assets, the Fed will also expand its mandate to corporate and municipal bonds and backstop a series of other measures that analysts estimate will deliver $4 trillion-plus in loans to non-financial firms. First they needed to stop this increase in bond yields. “The key issue at the end of the day is that we need to deal with a credit markets that is completely closed. “Today there is a strong recovery connected to the move that the Fed has introduced this massive weapon,” said Francois Savary, CIO of wealth manager Prime Partners, adding the Fed needed to prioritize fixing the seize-ups in funding markets. Wall Street S&P 500, Dow Jones and Nasdaq indexes were expected to bounce 4%, the main European bourses were up similar amounts and oil, gold and copper had all swung 3%-5% higher. The Fed’s action had not cheered Wall Street for long on Monday, with losses of 2%-3% on major indexes, but the mood improved on Tuesday, as other governments and central banks stepped in. Federal Reserve’s offer of unlimited bond-buying was not expected to mitigate the devastating impact of the coronavirus alone, investors hoped it would help avert a global depression with the help of other state rescue packages. ![]() LONDON (Reuters) - Financial markets rebounded on Tuesday, with stocks and oil jumping about 4% in Europe, while the safe-haven dollar recoiled as unprecedented global stimulus efforts gained traction.Īlthough the U.S.
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