The S&P 500 was set for its biggest two-day gain in nearly two weeks, building on a 7% jump on Monday.
A record $2.2 trillion in aid and unprecedented policy easing from the Federal Reserve helped the S&P 500 post its biggest weekly percentage gain in over a decade last week, and the Dow Jones its best since 1938.
On Tuesday, US President Donald Trump warned Americans of a "painful" two weeks ahead.
The S&P 500 remains down about 27% from its February record high, a loss of more than $7 trillion in stock market value.
The Dow Jones Industrial Average rose 1,130.26 points, or 6.08%, at the open to 19,722.19.
Wall Street's volatility index has retreated from 12-year highs but is still at levels rarely seen since the global financial crisis.
All three main stock indexes jumped more than 4%, with gains led by utilities, real estate and consumer staples stocks.
The United States surpassed China as the nation with the most number of COVID-19 cases, putting more pressure on lawmakers to flood the country with cash to support businesses and families.
President Trump, in a now regular update for Americans hunkered down in their homes, said there were therapies that he believed could be rolled out quickly.
The benchmark S&P 500 index ended off of its lows of the session but still down 5.2%.
The halt at the opening was the third emergency pause in Wall Street trading in six days.
Investors are pinning their hopes on a $2 trillion economic rescue package, negotiations over which appeared to have made progress late on Monday.
U.S. stocks rocketed higher on Monday, with each of the major indexes rallying at least 7%, after a fall in the daily death toll in New York, the country's biggest coronavirus hot spot, fueled optimism a leveling off of the pandemic was on the horizon.
The major indexes fell over 3 per cent. On Wednesday the market tallied huge gains following moderate Joe Biden's success in the Super Tuesday primaries for the Democratic presidential nomination.
The broad-based S&P 500 plunged 9.5 percent to 2,480.64, while the tech-rich Nasdaq Composite Index tumbled 9.4 percent to 7,201.80.
The Dow fell as much as 10 percent during the early afternoon, but stocks rallied somewhat near the end of the session as the US Senate passed a $100 billion emergency package for free coronavirus testing, sick pay and other benefits related to the crisis.
The Dow Jones Industrial Average rose 1,985 points, or 9.36%, to 23,185.62.
The S&P 500 and Nasdaq are now over 10% below their intraday record highs hit on Feb. 19.
The Nasdaq Composite was up 90.90 points, or 0.93%, at 9,823.65.
Wall Street's three major indexes tumbled on Tuesday, with the Dow registering its biggest quarterly decline since 1987 and the S&P 500 suffering its deepest quarterly drop since the financial crisis on growing evidence of massive economic damage from the coronavirus pandemic.
The Dow Jones Industrial Average fell 913.21 points, or 4.55%, to 19,173.98.
Fears of a global slide into recession, and a resulting collapse in U.S. corporate earnings this year, have knocked $3.1 trillion off the value of major U.S. companies in the past 10 days.
Wall Street suffered its biggest drop since the crash of 1987 on Monday after unprecedented steps taken by the Federal Reserve, lawmakers and the White House to slow the spread and blunt the economic hit of the coronavirus failed to restore order to markets.
Nifty futures on the Singapore Exchange traded 22.25 points or 0.26 per cent higher at 8,484, indicating a positive start for Dalal Street.
The benchmark S&P 500 fell about 12% from its record closing high hit last week, confirming its fastest correction in history on Thursday.
The CBOE volatility index fell 5 points on Thursday, but was still near levels far above those in 2018 and 2019.
Nifty not showing any sustainable upside bounce from the support is not a good sign.
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 2153.35 crore on Tuesday, data available with NSE suggested.
All three main U.S. stock indexes rebounded strongly from Monday's brutal selloff as the coronavirus outbreak forced entire nations to shut down.
Analysts said the index needs to breach the 8,900-9,000 range in the near term, before instilling confidence among market participants.
US Fed said it would relaunch financial crisis-era purchases of short-term corporate debt.
The renewed slump came after the market rose 4 per cent on Friday, posting its strongest ever comeback after plunging 10 per cent for the first time in 12 years.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.1 per cent while Japan's Nikkei gained 1.9 per cent.
Nifty futures on the Singapore Exchange traded 168.45 points or 2 per cent lower at 8,273.50, indicating a gap-down start for Dalal Street.
The benchmark S&P500, which represents over 44% of the m-cap of all global equities, lost $927 billion of its value.
The US central bank cut rates three times in 2019 and has since held the fire amid signs of improving growth.
The index has breached the swing low of 7,832 and is approaching the 61.8 per cent retracement of the rally from the 2011 low, which is near 7,550 level, said Gaurav Ratnaparkhi, Senior Technical Analyst at Sharekhan.
Nifty could soon test the 200-day simple moving average of 11,682.8, with the major support of 12,000 being breached Monday on FII selling across cash and derivatives markets.
At 9:49 a.m. ET, the Dow Jones Industrial Average was down 283.47 points, or 0.97%, at 28,936.51.
Global markets rallied, helping the morale of domestic investors.
Japan's Nikkei firmed 1.0% after a jittery start, while South Korea added 2%.
Here’s breaking down the pre-market actions.
The S&P 500 lost $2.138 trillion in market capitalization over the last four sessions, according to S&P Dow Jones Indices analyst Howard Silverblatt.
The stocks crash wiped out Rs 11.27 lakh crore of equity investors' wealth during the day.
A fast spreading coronavirus beyond its epicentre in China spooked investors across the globe.
Crude prices edged up on Wednesday as investors covered short positions after three sessions of losses, even as fears deepened that the rapid spread of the coronavirus will lead to a global pandemic.
Investors now expect the Fed to deliver a 50 basis points rate cut when it meets on March 17-18.
The CBOE volatility index, also known as the fear index, ended near its session high.
All major S&P sectors were trading higher, with technology leading the charge on a 1.6% gain. Defensive utilities , real estate and consumer staples were the laggards.
Benchmark 10-year US Treasuries fell to record lows, while gold rose 0.5%. Oil prices slid to their lowest in more than a year on fears of lower demand.
Trump’s travel ban and tepid fiscal measures sparked the latest leg down in risk assets.
Net-net, foreign portfolio investors (FPIs) were sellers of domestic stocks to the tune of Rs 1,354.72 crore on Monday, data available with NSE suggested.
S&P 500 futures were down 92 points, or 3.69%, at their daily down trading limit, while the SPDR S&P 500 ETFs tumbled 5.6%.
E*Trade jumped 24.2% after Morgan Stanley offered to buy it in a $13 billion stock deal, the biggest acquisition by a Wall Street bank since the global financial crisis.
Sources told Reuters China was set to unleash trillions of yuan of fiscal stimulus to revive an economy facing its first contraction in four decades.
The energy sector fell 5%, tracking a plunge in oil prices.
All 11 S&P sectors were trading lower, led by a 5.2% drop in energy stocks, which tracked a slump in oil prices.
Investors continue to clamor for massive spending packages by governments to offset the pain.
An NYSE employee who worked on the trading floor tested positive for the virus this week.
Of the S&P's 11 major sectors, the rate-sensitive financial index weighed the most on the benchmark S&P 500 index, ending the day down 2.6 per cent.
Despite Friday's rout, all three indices finished the week with solid gains as the giant stimulus moved through Washington towards the desk of the president, with the Dow experiencing its largest weekly gain since 1931.
S&P 500 futures fell 4.77% to hit a daily down limit in early trading, and S&P 500 ETFs plunged 9%, suggesting the benchmark index would set off a 15-minute cutout.
Wall Street stocks finished sharply lower on Friday following a gloomy jobs report that analysts said represented a harbinger of far worse unemployment due to the coronavirus outbreak.
RBI has said that it is ready to take appropriate actions to preserve financial stability
The broad-based S&P 500 slumped 4.9 percent to 2,741.38, while the tech-rich Nasdaq Composite Index shed 4.7 percent to 7,952.05.
Nifty futures on the Singapore Exchange traded 169.50 points, or 1.46 per cent, lower.
India VIX, the barometer of fear in the market, also fell 3.28 per cent to 23.43.
Wall Street stocks rallied Tuesday on expectations for massive federal stimulus to address the economic hit from the coronavirus, partially recovering some of their losses from the prior session.
Market participants had been hoping that finance officials from the world’s seven largest economies would come out with a concrete plan.
NSE Nifty on Wednesday snapped a four-day losing streak and formed a bullish candle on the daily chart.
Tech stocks have been able to rally to records even as they were beset by bad news.
The Dow Jones Industrial Average rose 188.27 points, or 0.95%, to 20,087.19, the S&P 500 gained 11.29 points, or 0.47%, to 2,409.39 and the Nasdaq Composite added 160.73 points, or 2.3%, to 7,150.58.
Corporate earnings are increasingly under threat as US manufacturers, like many others, scramble for alternative sources as China's supply chains seize up.
Analysts said NSE Nifty needs to cross the 8,360 level for an initial target above 9,040.
Market has remained jittery as coronavirus cases showed no signs of abating in the country.
The S&P 500 rallied for a second straight session on Wednesday as the U.S. Senate appeared near a vote on a $2 trillion package to support businesses and households devastated by the coronavirus pandemic.
Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.
Wall Street's three major indexes fell more than 4% on Wednesday, after President Donald Trump's dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
The benchmark S&P 500 lost $927 billion of its value on Monday alone.
All sectoral indices on NSE were trading with gains in early trade.
On the daily chart, the index formed a bearish candle with a lower wick. This suggests that the intraday recovery was sold into.
Recessionary forces and general uncertainty are forcing investors to redeem their investments.
India's drug controller has been issuing licenses to molecular diagnostic companies to just get their Covid-19 testing kits validated by the National Institute of Virology. A license to get a test validated is different from a license to manufacture a kit.
The broader Topix advanced 2.1 per cent to 1,736.98.
Nifty needs to breach the 8,900-9,000 range, before instilling confidence among investors.
The broad-based S&P 500 sank 2.9 percent to 2,237.40, while the tech-rich Nasdaq Composite Index dipped 0.3 percent to 6,860.67.
Analysts said if Nifty50 breaches the 12,230 mark on the downside, then it will slip further.
Stock futures rollovers stood at 90 per cent, which were in line with an average rollovers of last three F&O series.
The exchange said the platform -- NSE RFQ (request for quote) -- will be launched by Sebi Chairman Ajay Tyagi on Tuesday, February 4.
The losses deepened after global authorities declared the coronavirus crisis a pandemic.
Nifty on Wednesday hit a new 52-week low by surpassing last Friday’s low of 8,556 level.
For the last nine months, the economics statistics coming out of Asia have pointed out to a meaningful slowdown in economic activity, says the author of Gloom, Boom & Doom Report
On Tuesday, the 30-share pack Sensex ended 181.40 points lower at 41,461.26, while its NSE counterpart Nifty was down 48.30 points at 12,214.50.
The staggering losses, including a 7.8% tumble in the Dow Jones Industrial Average, immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end in a way no one even imagined just a few months ago.
Nifty50 tanked 2 per cent, taking its losing streak into the fourth straight session.
Analysts said the NSE barometer needs to respect the support of 8,244, else the downside may resume.
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