Global stocks rally as oil gains offset coronavirus concerns; Dow up 2%

Topics Wall Street | Coronavirus | Lockdown


World equity markets climbed on Thursday on a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into recession. Investors sought the safety of the US dollar and government bonds.

Stocks and oil futures were among the few risk assets that advanced, with oil benchmarks surging 20 per cent  after US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war. MSCI's.

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