Global stocks gain as economic toll of virus worsens

International

FILE – This photo provided by the New York Stock Exchange shows the unoccupied NYSE trading floor, closed temporarily for the first time in 228 years as a result of coronavirus concerns, Tuesday March 24, 2020. Global stocks and U.S. futures declined Thursday after the U.S. Senate approved a proposed $2.2 trillion virus aid package following a delay over its details and sent the measure to the House of Representatives. (Kearney Ferguson/NYSE via AP, File)

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.

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