US stocks rise after China sell off   

Feb 3 (Lagos) - The US stock markets were resilient in the face of the sharp sell off in Chinese stock markets following their open after the extended Chinese new year holiday. 

Stocks in China opened lower by 9% as their government pumped more than $ 20 billion into the markets to help stabilize the markets. 

The Shanghai composite closed lower by 7.72% while the Heng Seng closed higher by 0.17% today.

Japan's NEKKIE closed lower by 1%

India's SENSEX closed higher by 0.34% 

London's FTSE was up 0.78% on first trading day after Brexit.

Germany's DAX closed higher by 0.58%

The three major US exchanges are all higher by more than 1% at the time of writing this article. 

The markets seem to be shrugging off the coronavirus scare for today. But it is likely to come back into focus later this week. Smart investors are probably selling but hopefully if a cure is found the world markets can put this saga behind us. For now major countries have cut off or reduced contact with China by stopping flights. Such isolation of China will have an adverse effect on global economy if it goes on much longer.

reporting for on Monday, Feb 3 2020 from Lagos, Nigeria
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