A trader works on the floor of the New York Stock Exchange. Reuters
For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
Global stock markets rose on Friday as investors put economic growth fears and trade jitters to one side, deciding that they had had enough drama and losses for one week.
Stock markets across the world ticked higher on Friday, as investors bet that the damage to the global economy from China’s coronavirus outbreak would not be long-lasting.
European and US stocks and oil prices recovered on Friday on US stimulus hopes, after Asian equities experienced wild swings, with traders closing out a week of carnage for world markets as the coronavirus pandemic fuels fears of a global recession.
Europe's biggest bank said it had been hit by falling interest rates disruption caused by the coronavirus and political tensions between the US and China.
Brent crude futures slid 27 cents, or 0.6%, to $43.25 a barrel by 0642 GMT. US West Texas Intermediate (WTI) crude futures were down 34 cents, or 0.8%, at $39.93.
The pan-European STOXX 600 index were up 0.1% at 0714 GMT, with technology, automakers and oil & gas firms leading the gains.