The optimism will have been short-lived for the European stock markets, which closed lower on Tuesday after having tried a precarious rebound until early afternoon, in the aftermath of the worst session since the crisis of 2008, which started investor confidence. Wall Street was however preparing to close sharply higher.
Around 3.30 p.m. GMT, several European stock exchanges were heading into negative territory after having attempted an evanescent technical rebound the day after their debacle. Paris (-1.51%), Frankfurt (-1.41%), London (-0.09%), Madrid (-3.21%), Milan (-3.28%), Amsterdam (-1, 21%), Brussels (-0.61%) and Lisbon (-0.69%) then closed in decline.
Wall Street Waterfall Variations
On the other side of the Atlantic, Wall Street was a roller coaster. The Dow Jones Industrial Average rebounded at the start of the session before dropping briefly into the red and then starting to rise again shortly before the close. Around 19:15 GMT, the Dow Jones climbed 3.18%, while the Nasdaq, with strong technological coloring, took 3.42% and that the broad index S&P 500 rose by 3.32%.
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The turnaround in Europe occurred at the end of the session when the markets seemed Tuesday morning reassured by the rise in oil prices and by hopes of budgetary measures to fight against the coronavirus. The Asian stock markets had even raised their heads a little.
Coronavirus spectrum still looms
"These are not a few somewhat uncertain classified ads on a stimulus from Trump or the European Central Bank that will restore confidence in the future as quickly," said AFP Mikaël Jakoby, head of continental Europe brokerage at Oddo Securities. .
"There are a lot of question marks and we are still in the ascending phase of the number of coronavirus patients", he adds, estimating that despite the attempt of "technical rebound", "we do not erase anything optimism lost in the short term. "