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Breaking: Stocks Pare Losses on WHO Coronavirus Comments

Published 01/31/2020, 03:59 AM
Updated 01/31/2020, 04:08 AM
© Reuters.
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Investing.com - The World Health Organization declared the coronavirus a public health emergency Thursday, but stocks sharply pared losses as the WHO also expressed confidence in China’s ability to control it.

  • The WHO said the Wuhan coronavirus a global public health emergency of international concern.

  • “Let me be clear: this declaration is not a vote of no confidence in China,” WHO Director-General Dr. Tedros Adhanom Ghebreyesus said at a press conference. “On the contrary, WHO continues to have confidence in China’s capacity to control the outbreak.”

    • The S&P 500, Dow and Nasdaq Composite fell on the initial report, but reversed and cut losses after the WHO backed China’s capacity to control it.
    • The S&P was, which had been down about 0.7% in afternoon trading was nearly flat.

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