European markets are set to rebound at the open Tuesday as investors react positively to the U.S. Federal Reserve's announced open-ended asset purchase program.
jumped in Tuesday afternoon trade in reaction to the Fed, with shares in Japan and South Korea leading gains among the region's major markets.The World Health Organization warned Monday that the pandemic is picking up pace.
"It took 67 days from the first reported case to reach 100,000 cases, 11 days for second 100,000 cases, and just four days for the third 100,000 cases," the WHO's director-general Tedros Adhanom Ghebreyesus said at a press briefing from the organization's Geneva headquarters. There are now over 350,000 confirmed cases of the virus globally, and the virus has caused over 15,000 deaths.
In Europe Tuesday, the Eurogroup meeting of euro zone finance ministers will meet via videoconference to discuss the region's response to the coronavirus. The meeting is due at 1830 CET. On the data front, the euro zone releases flash purchasing manager's index data for services and manufacturing for March.
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