The Dow Jones Industrial Average traded 371 points higher, or 1.4%, after dropping more than 300 points. The S&P 500 jumped 1.5% while the Nasdaq Composite advanced 1.3%.

The G-7 said in a statement they will use policy tools to curb an economic slowdown. However, the statement contained no specific actions.

Investors have been fretting over a potential economic slowdown as the coronavirus spreads around the world. More than 89,000 coronavirus cases have been confirmed globally along with more than 3,000 deaths related to the virus.

The virus’ fast spread led investors to price in easier monetary policy from the Federal Reserve. Traders are currently pricing in a 50 basis-point rate cut from the Fed, according to the CME Group’s FedWatch tool. Another 25 basis-point cut is also priced in for April.

The Reserve Bank of Australia moved overnight to cut in its cash rate by 25 basis points to 0.5%, a record low.

By admin

PennyStockPlay is committed to providing our members with the most informative and accurate penny stock trading information available on the Internet today. The team at PennyStockPlay is dedicated to turning even the most novice trader into a seasoned one. No one can guarantee gains, and if they do they are lying. There is always a minimum level of risk, as small as it can be, it is still present. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost, and current performance may be lower or higher than the performance quoted. We believe that the well-educated investor is a wealthy one, so subscribe to our newsletter by entering your email address in the opt-in box below and let us help you build a stock portfolio that will be the envy of all of your peers!