Big Dow turnaround | WHO declares global emergency | How good is GDP, really?

Stocks traded lower but reversed their losses when the World Health Organization declared a global health emergency.

VIEW IN BROWSER | SUBSCRIBE THU, JAN 30, 2020 EVENING BRIEF AS OF THU, JAN 30, 2020 • 04:01 ET DJIA 28858.66 +0.43% +124.21 S&P 500 3283.58 +0.31% +10.18 NASDAQ 9298.93 +0.26% +23.77   Most Active DOW NAME LAST CHG %CHG MSFT 172.78 +4.74 +2.82% AAPL 323.87 -0.47 -0.14% PFE 37.06 -0.14 -0.38% S&P 500 NAME LAST CHG %CHG GE 12.73 -0.21 -1.62% AMD 48.78 +1.27 +2.67% MSFT 172.78 +4.74 +2.82% NASDAQ NAME LAST CHG %CHG AMD 48.78 +1.27 +2.67% MSFT 172.78 +4.74 +2.82% FB 209.53 -13.70 -6.14% EDITOR'S NOTE For all the division over a possible recession, one thing is clear:  Economic growth is slowing. CNBC's Jeff Cox writes that growth in the nation's gross domestic product slowed to 2.1% in the fourth quarter - its slowest pace in three years. That figure would be weaker still were it not for an unusually large decline in imports amid trade tensions with China, writes CNBC's Thomas Franck.  Stocks were down again for much of the day on Thursday as coronavirus cases continued to climb, but those losses were reversed after the World Health Organization declared a global health emergency. The WHO noted, however, that it had confidence in China's ability to control the virus.  The outbreak is certain to dent China's economy, but there's no telling what it will do to the U.S., writes CNBC's Patti Domm.   White House economic advisor Larry Kudlow on Thursday said he doesn't see a material effect on the U.S. economy from the virus. But the disease is still spreading and generating hourly headlines.   "It's going to have a hit on Chinese spending," said Jonathan Millar, Barclays U.S. economist. "We may see more of it in the U.S. but we just don't know at this point. It's very uncertain."   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks make a big turnaround Fourth-quarter GDP rose only 2.1% and full-year 2019 posts slowest growth in three years at 2.3% WHO declares China coronavirus that's killed 171 a global health emergency Economic growth looks even weaker this quarter, with virus now a wild card CDC confirms first human-to-human transmission of coronavirus in US Facebook plunges, wiping out more than $50 billion in market value Tesla short sellers lose more than $1 billion in one day as stock skyrockets on earnings GM resurrecting Hummer as an all-electric 'super truck' with 1,000 horsepower Here's the investment strategy Bridgewater's Ray Dalio is using to deal with coronavirus Citigroup unveils free robo-advisor for customers with at least $50,000 at the bank     TOP VIDEO Bill Miller IV explains his fund's 120% return in 2019   CNBC PRO Here's what every major analyst had to say about Tesla's big earnings beat   SPECIAL REPORTS A quiet Fed may be one of the best things for stocks. Here's why Tesla spikes on earnings – here's what to watch next   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS