Stocks steady as finance ministers and central bankers pledge to fight coronavirus damage

U.S. stock markets stabilized on Tuesday after G-7 finance members committed to preventing the coronavirus from further damaging the world economy.

Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell led a conference call with the G-7’s top officials to discuss the coronavirus outbreak, the Treasury said Tuesday morning, and the group released a statement saying that they would “use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside risks.”