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· Markets in Asia were volatile Tuesday while US stock futures rebounded after Wall Street recorded historic declines, indicating that the worldwide upheaval caused by the novel coronavirus outbreak will continue to rattle investors for the foreseeable future.

S&P 500 futures climbed 3.7% after the index closed down 12% in New York on Monday. Dow futures rose more than 700 points, or 3.5%, after the index recorded its worst one-day point drop on record. And Nasdaq futures rose 3.4% after a double-digit plunge Monday.

Hong Kong’s Hang Seng Index was also flat in afternoon trade. The city announced Tuesday that it will require all arriving travelers from foreign countries to be quarantined indoors for 14 days in response to several imported cases of the virus.

China’s Shanghai Composite, meanwhile, moved down 0.4%.

The Philippine Stock Exchange on Tuesday became the first market to close over the coronavirus. In a memorandum on its website, it said trading would stop until further notice.

Even in a time of ailing financial markets, the country’s stock performance stands out. Its main index has plunged by nearly one-third from its January high, making it one of the worst performers in the Asia-Pacific region.

The closures came hours after President Rodrigo Duterte put big chunks of the country’s population under quarantine to stop the coronavirus outbreak. The country lists 142 confirmed infections and 12 deaths so far.

· Japanese shares staged a mild recovery on Tuesday, sidestepping a historic rout on Wall Street overnight, with suspected buying by the Bank of Japan and public pension funds lending broad support.

But overall sentiment was fragile, as lockdowns in Europe and the United States to combat the spread of the coronavirus fanned fears of further economic pain from the epidemic that has battered global financial markets.

The benchmark Nikkei average closed 0.1% higher at 17,011.53 in choppy trading, having touched its lowest since November 2016 earlier in the session.

· European markets open higher as coronavirus crisis continues; Stoxx 600 up 2.7%

European markets opened higher Tuesday with the fast-spreading coronavirus putting the continent in shutdown mode and fueling fears of an impending recession.

The pan-European Stoxx 600 climbed 2.7% at the start of trading, autos adding 5% to lead gains as all sectors except travel and leisure entered positive territory.

Europe’s lockdown over the coronavirus continues to dominate headlines. Italy and Spain remain the worst hit countries but France and Germany have also reported sharp rises in cases. The French president announced that the European Union would be closing its external borders on Tuesday.

Emmanuel Macron also said he was ordering people in France to stay at home for up to 15 days because of the coronavirus outbreak.

In the U.K., the government stopped short of closing schools but stepped up its advice to the public, with U.K. Prime Minister Boris Johnson telling the country on Monday to avoid social contact.

· Thailand to postpone New Year holiday, close schools to curb coronavirus

Thailand’s cabinet on Tuesday approved plans to postpone next month’s Thai New Year holiday and to close schools to limit the spread of the coronavirus, a government spokeswoman said.

The approvals followed a series of plans announced on Monday to close schools, bars, movie theaters, cockfighting arenas and other entertainment centers as well as postpone the Thai New Year holiday, or Songkran, which falls between April 13 to 15.