Coronavirus: US stocks closed up 9 per cent as Trump declares national emergency

US stocks closed up nine percent on Friday (local time) as President Donald Trump declared a national emergency to combat the coronavirus outbreak.

The Dow Jones Industrial Average, the broadest equities gauge on the New York Stock Exchange, settled up 9.4.

The S & P500, barometer for the top 500 US stocks, rose nine percent while the tech-heavy Nasdaq Composite gained 9.4 per cent.

All three indexes were still down about 20 per cent or more from their February highs, placing them into continued bear markets.