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Stocks - Wall Street Retreats From Highs After Increase in U.S. Virus Death Toll

Published 03/02/2020, 02:38 PM
Updated 03/02/2020, 02:56 PM
© Reuters.

By Yasin Ebrahim

Investing.com – The Dow eased from session highs after an uptick in coronavirus deaths in the U.S. soured investor sentiment, despite growing hopes of fresh stimulus from the Federal Reserve.

The S&P 500 rose 1.8%, Nasdaq Composite rose 1.7% and the Dow Jones Industrial Average rose 553 points, or 2.2%.

Officials in Washington state said Monday four new patients had died from Covid-19, taking the total number of deaths in the U.S. to six.

Five of the deaths were in King County and one was in Snohomish County, local officials said.

Still, stocks remained in the green amid stimulus pledges from global central banks to support the economy.

A 50-basis-point Fed rate cut is fully priced in for March, according to Investing.com's Fed Rate Monitor Tool.

Latest comments

Nursing home deaths, according to other reports. Just as so many THOUSANDS die from flu in nursing homes every year, but being the forgotten people, nobody gives it a first thought, let alone a second. Did investors actually believe there would be no more deaths from this thing? And btw - "down from high" is already old news.
when they finish writing the article it's already irrelevant
Too darn eager to write "down from high."   Then not updated when no longer true.
I bought back in slowly a short while ago. Took a tiny hit but liquidated all again. Its just not a good time to be invested.
What's "a short while" - 2 hours?  2 days?  2 weeks?   What is your timeframe?  Goals?  Saying "not a good time" has no meaning.
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