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Defensive Stocks Buoy Wall Street

Credit: Wochit
Published on February 13, 2020 - Duration: 00:35s

Defensive Stocks Buoy Wall Street

(Reuters) - Gains in defensives helped U.S. stocks bounce off session lows on Thursday, even as sentiment remained fragile after a spike in new coronavirus cases in China renewed worries over the scale of the epidemic and its likely impact.

The S&P 500 fell as much as 0.6% in early trading after China reported a record spike in deaths and thousands more infections using a new diagnosis method at Hubei, the epicenter of the outbreak.

This changed the mood on Wall Street, where a day earlier investors had bought on signs that the virus spread was slowing and helped the three main indexes close at record highs.

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