Stocks are surging on Wall Street to claw back some of their sharp losses from the day before in yet another day of big swings for the market. Health care stocks had the market’s biggest gains after a strong performance by Joe Biden on Super Tuesday.
Traders gather at a post on the floor of the New York Stock Exchange, Wednesday, March 4, 2020. Stocks are surging in early trading on Wall Street, led by health care stocks after Joe Biden scored a number of Super Tuesday wins.
Investors are also anticipating other central banks will follow up on the Federal Reserve’s surprise move Tuesday to slash interest rates by half a percentage point in hopes of protecting the economy from the economic fallout of a fast-spreading virus. Canada’s central bank cut rates on Wednesday, also by half a percentage point and citing the virus’ effect.
Even though many investors say they know lower interest rates will not halt the spread of the virus, they want to see central banks and other authorities do what they can to lessen the damage. The S&P 500 sank 2.8% on Tuesday after a brief relief rally triggered by the Fed’s rate cut fizzled. An indicator of fear in the market, which measures how much traders are paying to protect themselves from future swings for the S&P 500, eased by 8% in morning trading. The price of gold, which tends to rise when investors are feeling fearful, also dipped $4.60 to $1,639.80 per ounce. Crude oil, which moves in part on expectations for economic strength, rose more than 1%.
Health care stocks in the S&P 500 jumped 3.6% for the biggest gain by far among the 11 sectors that make up the index. UnitedHealth Group surged 9.9%, Anthem jumped 13.6% and Cigna rose 10.3%.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Sanders: Wall Street and political establishment 'do not want me to become president'“We need scientists running our response to the coronavirus, and not a politician like [Vice President Mike] Pence, who barely believes in science at all,” says Sen. Bernie Sanders on Pres. Trump’s pick of Pence to lead the nation’s coronavirus response.
Les mer »
Dow has biggest daily jump since 2009 as Wall Street buys the dipThe Dow surged over 5% while the S&P 500 and Nasdaq each jumped more than 4% in a major rebound following last week's steep sell-off sparked by fears about the coronavirus
Les mer »
Another foul day on Wall Street after surprise Fed rate cutU.S. stocks tumbled nearly 3% after the Federal Reserve made an emergency rate cut to blunt the impact of coronavirus on the world's largest economy
Les mer »
Wall Street prepares as coronavirus gets closer to homeWall Street stepped up preparations to deal with the impact of the coronavirus o...
Les mer »
New Balance Sneakers Are the Latest Street Style Stars — Shop These 10 Pairs For YourselfChunky dad sneakers have been on trend for quite some time now, but this season, they've reached a whole new level. We've been seeing New Balance sneakers pop
Les mer »
Tesla has a new biggest bull on Wall Street that thinks it could surge 46% on strong growth potential (TSLA) | Markets InsiderOn Tuesday, JMP boosted its Tesla price target to $1,060, the highest on Wall Street and 46% above where shares traded at Monday's close. ...
Les mer »