Stocks Climb Globally After Halt in China Sell-Off

European stocks rallied with U.S. equity futures after a brutal sell-off in Chinese equities halted on Tuesday while investors gauged the latest efforts to contain the deadly coronavirus. Treasuries fell with gold. The Stoxx Europe 600 Index’s advance was led by mining and energy shares as 18 of 19 industry sectors rose. BP Plc jumped after an earnings beat. Equities rebounded from Shanghai and Hong Kong to Seoul and Taipei in the wake of a record $720 billion wipeout in China on Monday. The offshore yuan recouped the previous session’s decline while the yen weakened. West Texas oil rose after a four-day retreat. A gauge of the dollar held most of its Monday gain, the biggest since September.

Investors are weighing China travel restrictions and business shut-downs alongside measures Beijing is introducing to support growth as the hit to the country’s economy mounts. The latest China death toll from the virus is 425, while the number of cases has risen to almost 20,500. Macau is asking casinos in the world’s biggest gaming hub to shut down for half a month as part of efforts to contain the spread.

The Stoxx Europe 600 Index jumped 1% as of 9:27 a.m. London time. Futures on the S&P 500 Index rose 1%. Nasdaq 100 Index futures gained 1.1%. The MSCI All-Country World Index rose 0.4%. The MSCI Asia Pacific Index surged 1.1%. West Texas Intermediate crude surged 1.9% to $51.08 a barrel. Gold weakened 0.6% to $1,567.25 an ounce. LME copper surged 2.7% to $5,676 per metric ton.