Wall Street recovers losses despite jump in COVID-19 cases and new lockdowns

US stocks have come off their lows despite rising coronavirus cases in North America, and new lockdowns were imposed across cities and states.

New hospitalisations for COVID-19 jumped by almost 50 per cent over the past fortnight and the US death toll surpassed one quarter of a million.

Schools and businesses have been closed to slow the spread of the virus with New York shutting its public schools, the biggest public school system in the country.

Investors were also dismayed by new figures which showed that the number…