U.S. stocks rallied and oil posted its biggest gain in more than a month, while major markets in Europe almost completely erased losses sparked by the reaction to China’s coronavirus.
What people are currently looking at is the rate of spread of the outbreak: the number of cases is still going up, but the growth rate is slowing down.
Oil prices have sharply reversed course following a four-day losing streak. OPEC, Russia and their allies are considering deeper production cuts in meetings this week.
Despite some optimism, the World Health Organization said there is still no cure. The fact is that new cases have increased in the last 24 hours.
The good news is that the spread of the virus outside mainland China is extremely low.