World equity markets climbed on Thursday on the back of a surge in risky assets like oil, offsetting concerns over an increasing death toll from the coronavirus pandemic that is expected to push the global economy into a recession.
Investors sought the safety of the U.S. dollar and government bonds. Oil futures were among the few risk assets that advanced, with benchmarks surging 25% after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their oil price war.
In midday trading on Wall Street, the Dow Jones Industrial Average rose 331.67 points, or 1.58%, to 21,275.18, the S&P 500 gained 44.11 points, or 1.79%, to 2,514.61 and the Nasdaq Composite added 110.17 points, or 1.5%, to to 7,470.75.
Source : Reuters