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US: Stocks open higher, stabilising after Monday's rout
[NEW YORK] Wall Street stocks advanced early Tuesday, stabilising from the previous session's rout as markets continued to monitor the spread of the coronavirus.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.3 per cent at 28,032.20. On Monday, the blue-chip index suffered its worst session in more than two years amid fears the virus will derail global growth.
The broad-based S&P 500 added 0.2 per cent at 3,232.56, while the tech-rich Nasdaq Composite Index gained 0.4 per cent to 9,258.28.
Analysts pointed to bargain-hunting as a powerful incentive for the benign beginning to Tuesday's session in spite of anxiety over the outbreak. The market will consider later Tuesday a report on US consumer confidence.