BEIJING (AP) – Major global stock markets and U.S. futures are higher following a rocky start to the day after a White House warning about possible American deaths from the coronavirus sent Wall Street tumbling. London and Frankfurt opened higher and Shanghai gained 1.7% while Hong Kong closed higher after swinging between losses and gains.
Tokyo and Sydney declined, but losses were smaller than Wall Street’s 4.4% fall overnight. The White House rattled investors with a warning that as many as 240,000 Americans might die of the virus. Traders are trying to figure out how long and deep this history-making global economic downturn might turn out to be.