NEW YORK: Gains on Wall Street led stocks across the globe higher on Wednesday, a rebound from a sharp selloff linked to coronavirus worries, but other financial markets felt nagging pressure from concerns over how the disease will affect the global economy.

The Japanese yen and US and German bond prices gave back some recent gains. Oil prices continued to fall.

On Wall Street, the Dow Jones Industrial Average rose 77.21 points, or 0.29pc, to 27,158.57, the S&P 500 gained 10.2 points, or 0.33pc, to 3,138.41 and the Nasdaq Composite added 51.43 points, or 0.57pc, to 9,017.04.

The pan-European STOXX 600 index was flat and MSCI’s gauge of stocks across the globe shed 0.08pc.

Emerging market stocks lost 1.13pc. MSCI’s broadest index of Asia-Pacific shares outside Japan closed 1.23pc lower, while Japan’s Nikkei lost 0.79pc.

US crude fell 0.96pc to $49.42 per barrel and Brent was last at $54.08, down 1.58pc on the day.

Published in Dawn, February 27th, 2020