Stocks on Wall Street rebounded to trade more than 1% higher after the Fed’s surprise statement. But the Dow Industrials, Nasdaq and S&P 500 later pared gains to seesaw erratically on either side of break-even. Shares in Europe rose to trade more than 2% higher on the day, while MSCI’s all-country world index rose almost 1%. The Fed’s rate cut and G7 statement came after global stocks last week suffered their worst rout in a decade on fears the disruption to supply chains, factory output and global travel caused by the epidemic could seriously slow the world economy. MSCI’s gauge of stocks across the globe gained 1.16% and emerging market stocks rose 1.67%.

Source: The Express Tribune March 03, 2020 16:52 UTC