U.S. Stocks Advance After WHO Coronavirus Remarks: Markets Wrap
- Organization calls viral outbreak a global health emergency
- Amazon key holiday results crush Wall Street estimates
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U.S. stocks advanced and bonds retreated after the World Health Organization stepped up efforts to combat the deadly coronavirus by declaring an international health emergency.
The S&P 500 Index erased losses after WHO said travel and trade restrictions weren’t necessary, removing at least temporarily a threat to the global economy. The organization also commended China’s efforts to contain the disease. The declaration came after the U.S. reported the first case of human-to-human transmission of the virus. Equities have been under pressure since the outbreak last week, while havens from Treasuries to gold have rallied as investors fretted the infection would derail fragile growth around the world.