The international stock markets seem to be in recovery.
A day after markets in Europe, Asia and the U.S. plummeted amid a drop in oil prices and the ongoing spread of COVID-19, the disease caused by the coronavirus with more than 115,800 confirmed cases around the world, there were signs of a comeback.
The Euronext Paris was up nearly 22 points to about 936, a roughly 2.3 percent increase, while the French index CAC 40 was up around 120 points to 4,827.84, a 2.6 percent increase. In London, the FTSE was up about 173 points to around 6,138, a 2.8 percent rise. In Tokyo, the Nikkei was up 168 points to 19,867, a 0.9 percent increase.
Luxury fashion stocks rose with the tide, with Burberry Group plc rising 4.2 percent to 15.74 pounds; Moncler SpA, 0.4 percent to 30.65 euros; Kering, 3.6 percent to 473.60 euros; Marks and Spencer Group Plc, 2.3 percent to 1.40 pounds; Hermès International, 1.2 percent to 613 euros, and LVMH Moët Hennessy Louis Vuitton, 3.5 percent to 349.85 euros.
On Monday, the investor panic had also gripped the U.S. markets, with the Dow Jones Industrial Average falling 2,013.76 points and the New York Stock Exchange triggering a “circuit breaker” to temporarily halt trading for 15 minutes as stocks fell too quickly.
The respiratory disease COVID-19 generally presents with mild symptoms of cough and fever in most people who have it, though it can lead to more severe complications in patients who are older or who have other health conditions including heart disease and diabetes, according to the Centers for Disease Control and Prevention.
The outbreak has sparked an atmosphere of panic as a series of fashion events, music festivals and retail and tech conferences get canceled or postponed, and various federal and local governments move to contain the disease. The latest Johns Hopkins university tally on Tuesday placed the number of confirmed deaths due to the illness at 4,087.