BEIJING — Global stock markets and U.S. futures rose Friday on hopes government and central bank action can shield the world economy from a looming recession caused by the coronavirus. London and Frankfurt opened more than 4% higher and Shanghai, Hong Kong and other Asian markets advanced. Investors were encouraged after seeing more steps by the Federal Reserve and other central banks and governments to support credit markets and the economy. On Wall Street, the future for the benchmark S&P 500 index rose 2.8% and that for the Dow Jones Industrial Average gained 3.2%. The S&P 500 gained 0.5% on Thursday in a relatively modest change after wild price swings over the past week.

Source: International New York Times March 20, 2020 05:37 UTC