Stocks rally on virus vaccine hopes, dollar gains

Stocks NYSE two

NEW YORK: The dollar gained and a gauge of global equity markets surged for a third day on Wednesday, as investors cheered expectations of more central bank stimulus and reports that scientists were developing a vaccine for the deadly coronavirus.

U.S Treasury yields rose on early reports that a Chinese university team found a drug to treat people infected with the virus while UK researchers said they made a "significant breakthrough" in finding a vaccine.