NEW YORK (AP) – Stocks, Treasury yields and oil are clawing back some of the plunge they took a day before, when the S&P 500 had its worst drop in more than a decade.
Investors are welcoming the turnaround, but they are not expecting this to be the end of the market’s huge swings. They want to see the number of infections from the new coronavirus slow down, and they also want a big, coordinated response from governments and central banks around the world.
President Donald Trump says he’ll ask Congress for tax relief and other quick measures. The S&P 500 is up 3.3% in morning trading.