Dow Futures Recover 200 Points While China Attempts to Rewrite Coronavirus Narrative, Crypto Coins News

• Dow Jones futures rallied by as much as 319 points Wednesday night after the blue-chip index crashed nearly 1, points in New York trading.
• Markets remain extremely volatile. over fears that the world economy was headed for a protracted recession.
• Meanwhile, China’s Communist Party is trying to recast itself as a global savior in the pandemic – and is blaming the United States for its lackadaisical response.

Futures on the Dow and broader US stock market rallied Wednesday night, shaking off a brutal start to the second quarter that was tied to fears of protracted recession in the world economy .

Though the after-hours rally was largely one of relief, it came amid reports that China’s Communist Party was trying to rewrite the narrative on the coronavirus pandemic. Early evidence suggests it may be succeeding.

Dow Recovers After Volatile Session

Futures on all three major US indexes traded higher Wednesday night. The Dow Jones mini futures contract rallied by as much as points, reaching a high of , . . The contract was last seen trading higher points. Dow futures staged a modest relief rally Wednesday night. | Chart: Yahoo Finance

S&P futures climbed 0.6%. Nasdaq mini futures contracts also rose 0.6%.

The indexes each fell 4.4 % on Wednesday, as the threat of recession continued to hang over the US and global economies.

China as Global Savior? After failing to contain the coronavirus outbreak, China’s Communist Party is now trying to recast itself in the role of global savior.

In a story published by The Wall Street Journal , authors Philip Wen and Drew Hinshaw highlight China’s attempt to rewrite the narrative.

Just last week, Chinese President Xi Jinping told other leaders at the Group of summit that his country was ready and willing to supply others with virus-fighting supplies.

As the Journal highlighted, Hungary has already received a shipment of three million face masks, , (test kits and) ventilators from Beijing. China has also sent members of its anti-epidemic team to various countries, including Serbia and Italy.

Meanwhile, some of China’s embassies have upped their rhetoric against the United States for its delayed response to the crisis and for failing to help its allies. This came after President Trump defended his use of the phrase “China virus” to describe COVID –

Beijing’s French embassy tweeted earlier this week that it was China who the entire world turned to “when the epidemic started to explode everywhere.” It added:

It is China. who lent a helping hand to more than 80 nations. Not the United States.

Official reports from China suggest the outbreak is finally under control, while in the United States the situation is getting worse by the day. (

China’s infection data need to be taken with a grain of salt

after the country expelled foreign journalists during the height of the outbreak.)

So far, more than , COVID – 40 cases have been reported worldwide. That includes around , active cases . Cases topped 224, 06 in the United States on Wednesday. The latest figure stands at just over 319, 06.

This article was edited by Josiah Wilmoth .

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