It was another turbulent day on Wall Street as stocks swung wildly from sharp gains to negative territory before closing higher at the end of the day. The Dow fluctuated more than 1,300 points between its lowest and highest levels before closing near the session's high.
Tuesday's gains followed Monday's heavy selloff, the markets' worst day since 2008.
With less than half an hour before the closing bell, stocks are rallying once again.
It's been another crazy day on Wall Street. The Dow has swung more than 1,000 points between its highest and lowest points, and the major indexes briefly turned negative around midday.
But as the end of the day approaches, stocks are rallying towards their highs.
The employee’s condition is improving, and she is receiving medical care, according to a memo to employees.
Walmart, the nation’s largest private employer, has been in contact with health experts and will “continue to take precautions and actions to keep our stores, clubs and other facilities clean and ensure the well-being of our associates, customers and members.”
“The health and safety of our staff, customers and clients is our top priority and we are providing every support to the member of staff and their family,” the bank said.
According to the statement, the employee has been in self-quarantine since March 3.
The company cleaned and disinfected the employee’s workspace and surrounding area as well as undertaking additional deep-cleaning measures, the company said. Co-workers and who had close contact with the infected employee have been told to self quarantine.
Bank of America is cutting its 2020 forecast for global growth to 2.2% from 2.8%.
It's the second time the bank has trimmed its estimate in less than two weeks, as it weighs the impact of the surge in coronavirus cases outside of China. BofA cut expectations for US growth to 1.2% from 1.6%.
In a note to clients on Tuesday, the bank’s analysts said the virus' “main impact is a sharp weakening of leisure and retail activity with a small hit to labor supply.”
The analysts said they are concerned about “the slow public health response” in a number of countries and they note “financial conditions have tightened significantly.”
Policymakers' and investors' reliance on central banks to step up in times of economic uncertainty is also a concern for the BofA analysts. The Federal Reserve is playing only a supporting role in the response to the outbreak, they said.
The massive slump in oil prices this week is also hurting short-term growth prospects.
About half an hour after stocks pared their losses and dipped into negative territory, the rally seems to be back on.
The back and forth is keeping investors on their toes.
Shares of health insurers are climbing higher today after Vice President Mike Pence announced that several insurers agreed to waive copays for coronavirus testing.
Pence also said that the insurers would extend the coverage for coronavirus treatment in their plans and that "all the CEOs agreed to 'no surprise billing.'"