Stocks - Wall Street Retreats From Highs After Increase in U.S. Virus Death Toll
Investing.com
Published Mar 02, 2020 02:38PM ET
Updated Mar 02, 2020 02:56PM ET
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.
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Written By: Investing.com
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