Stocks open higher on Wall Street a day after a big drop

NEW YORK (AP) — Stocks are opening broadly higher on Wall Street a day after the S&P 500 had its biggest drop since early October. Technology companies were putting up some of the biggest gains early Tuesday. Whirlpool and Xerox rose after reporting solid results. Markets remained closed in China for Lunar New Year holidays, while South Korea's benchmark sank as it reopened after its own holidays. The S&P 500 rose 11 points, or 0.3%, to 3,254. The Dow Jones Industrial Average added 62, or 0.2%, to 28,599, and the Nasdaq rose 47, or 0.5%, to 9,184 Bond prices fell. The 10-year Treasury yield rose to 1.62%.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

European stock markets and U.S. futures edged higher after another day of losses in Asia on Tuesday amid worries over the expanding outbreak of a new virus in China.

France's CAC 40 rose 0.5% to 5,893 , while Germany's DAX rose 0.4% to 13,253. Britain's FTSE 100 was up 0.5% at 7,447.

U.S. shares appeared set to open higher with Dow futures gaining 0.5% and S&P 500 futures rising 0.7%.

In China, the government said more than 4,500 people have been confirmed ill with the virus and 106 have died in the outbreak of a novel coronavirus centered on the city of Wuhan, an industrial hub along the Yangtze river.

The illness can cause pneumonia and other severe respiratory symptoms, and Chinese authorities have extended the Lunar New Year holiday and ordered Wuhan and some other cities nearby to stop public transport and try to prevent people from traveling to help contain its spread.

The virus has spread to a dozen countries, including the U.S. Besides the threat to people's lives and health, investors are worried about how much damage the virus will do to profits for companies around the...