U.S. stock markets opened higher after two days of losses as a measure of confidence returned thanks to a rebound in crude oil prices and the Senate's passing of another economic support package, which tops up the existing program for small businesses by more than $400 billion while also channelling more money to hospitals.
Gold prices rose on Wednesday morning in Asia as stocks took a hit from the sharp drop in oil prices.
The U.S. dollar has slipped slightly in European trade Wednesday, with equity markets opening higher, but this safe haven remains in fashion as oil markets continue to show stress.
The Dow plunged on Tuesday, as a slump in oil triggered a sea of red across Wall Street, prompting investors to pull their bearish bet on large-cap tech stocks.
With the speculative crowd moving out of U.S. crude’s expiring spot month, the battered May contract rose from the depths of negative pricing to settle up on Tuesday.