Europe Markets: European stocks climb in aftermath of emergency Fed rate cut

Europe Markets: European stocks climb in aftermath of emergency Fed rate cut

European stocks climb in aftermath of emergency Fed rate cut. European stocks made gains early on Wednesday, on hopes governments and central banks will ease the impact of the coronavirus crisis after the Federal Reserve's surprise rate cut.. After suffering its worst week since the 2008 financial crisis - falling 12.7% - the Stoxx 600 has now risen 2.7% so far this week.. had closed 2.9% lower on Tuesday, despite an emergency rate cut by the Fed, aimed at protecting the economy from the impact of coronavirus.. The Fed's intervention backfired in the U.S. , sending stocks lower on Tuesday, but hopes of central bank easing in Europe, along with other measures, helped lift European stocks in early trading.. CMC Markets analyst Michael Hewson said stocks had climbed on hopes that governments and central banks will "offer incentives on the fiscal side to small and medium-sized businesses to help them cope with the disruption.". The World Bank also stepped in overnight to promise $12 billion to support countries dealing with the health and economic impacts of the virus.. China reported another fall in the number of daily new COVID-19 cases - the fewest since Jan. 20 - but the