Stock markets pick up after heavy Wall Street rout

Stock markets pick up after heavy Wall Street rout

Stock markets picked up on Friday after a day of losses in Asia and following Wall Street's heavy sell-off the day before on worries over a possible second wave of coronavirus cases.. Dow and S&P 500 futures were up 2.2 percent and 1.9 percent, respectively, indicating some stabilization after the Dow on Thursday fell by almost seven percent.. Britain's FTSE 100 was up 1.1 percent to 6,141, recovering from early losses on news that the British economy contracted by 20.4 percent in April, wiping out nearly two decades worth of growth.. Thursdays bout of selling came as reports showed US cases climbing in nearly half the 50 states.. In other trading, benchmark US crude oil rebounded, gaining 20 cents to US$36.54 per barrel in electronic trading on the New York Mercantile Exchange.. Around 105 coronavirus cases found among Egyptian returnees: Source.