Stock Markets: European stocks falter again as bounce on Wall Street (Casino) fades as a result of fake reports - by Jill Disis and Julia Horowitz,

Global stocks are struggling to get back on track one day after novel coronavirus fears and an oil price war sparked a worldwide panic.

The mood among investors was initially helped by news of President Donald Trump's plan to propose "significant relief" in the form of a payroll tax cut and help for hourly workers most affected by the coronavirus, or Covid-19, and expectations of more stimulus measures as the risks of a global recession rise. 

But concerns about the spread of the virus, and the scope of the policy response, returned to weigh on markets following the worst day for US stocks since 2008.

The S&P 500 was up 1.3% on Tuesday afternoon, after previously rising as much as 3.7%. The Dow climbed about 1%. The Nasdaq rose 1.4%. 

European shares, meanwhile, finished the day mainly in the red. Germany's DAX (DAX) lost 1.4%, France's CAC 40 (CAC40) dipped 1.5% and the FTSE 100 ended flat. In Italy, where the entire country is now under unprecedented restrictions, the main benchmark index dropped another 3.3% after falling 11% on Monday.

US oil futures were last up 7.9% to $33.59 a barrel. The global benchmark Brent crude also rose 8% to trade above $37 a barrel. 

JPMorgan equity strategists said that Monday's slump was exaggerated given that the Federal Reserve is expected to cut interest rates to zero and the Trump administration has said it will unveil a stimulus plan.

"The market has gone ahead and priced in too severe of an adverse scenario, assuming we get timely and strong counter-policy response and a Covid-19 outbreak that peaks in the coming weeks," the bank told clients Tuesday.

Read more at: European stocks falter again as bounce on Wall Street fades - CNN