BANGKOK – European stocks rose Friday and Wall Street was set to gain on the open after turbulent trading in Asia and a day after the market's worst session in over three decades.
Shares rose in Paris and London but fell 6.1% in Japan following Wall Street's and Europe's biggest drop since the 1987 Black Monday crash.
Friday the 13th brought wild swings for some markets as governments stepped up precautions against the spread of the new coronavirus and considered ways to cushion the blow to their economies.
More central banks, including those of China, Sweden and Norway, intervened to flood credit markets with liquidity, a day after similar interventions from the U.S. Federal Reserve and the European Central Bank.
Benchmarks in Japan, Thailand and India sank as much as 10% early in the day, but India's Sensex gained 3.3% in afternoon trading. In Bangkok, the Thailand SET fell 1.3% after its 10% plunge triggered a temporary suspension of trading.
Markets worldwide have been on the retreat as worries over the economic fallout from the coronavirus crisis deepen and the meltdown in the U.S., the world's biggest economy, batters confidence around the globe.
Gains in Europe were the latest chapter in a period of remarkable volatility for financial markets, with major indexes plunging into bear market territory at record pace.
In France, the CAC 40 was up 5.1% to 4,250 while Germany's DAX climbed 4.2% to 9,545. Britain's FTSE picked up 4.9% to 5,493.