93.9 The Eagle – The News and Talk of Columbia, MO
(AP) — Global stock markets have rebounded from record-setting declines after President Donald Trump said he would ask for a tax cut and other steps to ease the pain of a spreading coronavirus outbreak.
The gains follow Wall Street’s biggest one-day drop since the 2008 global crisis. Oil prices also bounced back from a record-setting fall. Benchmarks in London, Frankfurt, Shanghai and Tokyo advanced.
Markets plunged Monday after a squabble among major oil producers about output levels caused crude prices to plummet 25%. Monday’s global selloff also reflected alarm over mounting economic damage from the coronavirus that emerged in China in December.
