New York (AFP)

Wall Street progressed Wednesday at the opening, starting again after two tumbling sessions during which a wind of panic linked to the coronavirus blew on the market.

Around 3:00 p.m. GMT, its flagship index, the Dow Jones Industrial Average, rose 0.98% to 27,347.77 points.

The highly technological Nasdaq gained 1.31% to 9,082.76 points and the broader S&P 500 index rose from 1.03 to 3,160.41 points.

The New York Stock Exchange had unscrewed Tuesday, investors alarmed by the speed of propagation of the new coronavirus: the Dow Jones had plunged by 3.15% and the Nasdaq by 2.77% after having already very sharply collapsed the standby.

If viral pneumonia continued to spread on Wednesday, the spread of the virus appeared to have peaked in China, where authorities announced 52 new deaths in 24 hours, the lowest figure in more than three weeks.

The increase in the number of cases of contamination worldwide, especially in Italy but also in other European countries such as Austria, Switzerland or France, remained a subject of concern for market players.

"For many, the assumption is that the impact will be greater and last longer than initially planned," explains Patrick O'Hare of Briefing.

"The additional fear that emerged yesterday is that the United States will not be spared the epidemic and may soon find itself in a state of paralysis, which has severely weakened economic activity in northern China. 'Italy and other places, "said the expert.

Donald Trump must also speak Wednesday at the end of the day from the White House on the coronavirus crisis in the presence of officials from the American Centers for Disease Control and Prevention (CDC).

The American president, who made good economic performances of the United States and the flamboyant health of the Stock Exchange the main argument of his re-election campaign, accused the democrats and certain media of blackening the table and panicking the markets.

Economic adviser Larry Kudlow on Tuesday on the CNBC financial news channel urged investors not to panic, stressing that the coronavirus was not an "economic tragedy".

In the bond market, the 10-year rate on the US debt rose a bit after hitting Tuesday's historic low. It stood at 1.356% against 1.352% at the previous closing.

© 2020 AFP