Shares fell sharply in the United States on Monday at the opening bell as investors feared the reappearance of Covid-19 cases in the United States as well as in China. But the market soon recovered. The Federal Reserve’s action helped boost sentiment: The central bank has finally launched the Main Street Lending Program to help small and medium-sized businesses and has also pledged to buy corporate bonds.
In the oil trade, U.S. crude oil contracts fell 1.1 percent to $ 36.73 a barrel during trading hours on Tuesday in Asia. Brent, the global benchmark for oil, lost 1% to $ 39.34 a barrel. The two contracts were set higher on Monday, both more than 2%.
In the future, U.S. retail and industrial production data is scheduled for release on Tuesday. Fed chairman Jerome Powell will testify before Congress this week.
– Anneken Tappe contributed to this report.