Pence: Insurance companies agree to cuts amid virus

US Vice President Mike Pence said insurance companies had agreed to cover co-pays for coronavirus testing, drugs and have no surprise costs in response to the coronavirus.

Pence comments came on Tuesday at the White House during a meeting with US President Donald Trump and insurance company CEOs.

This comes as the Trump administration tries to respond to the growing spread of COVID-19 in the US and the financial instability on Wall Street.

The Dow had been up 945 points in the early going but that gain was gone by late morning, and indexes were mixed at noon.

Markets bumped up briefly after Pence announced the move by the nation's big health insurers.

Investors are likely to see more big swings until the number of infections from the new coronavirus decelerate, and they also want a big, coordinated response from governments and central banks.

There has been at least 27 deaths in the U.S. and over 760 confirmed cases.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia.

The vast majority of people recover from the new virus. According to the World  Health Organization, people with mild illness recover in about two weeks, while those with more severe illness may take three to six weeks to recover.

In mainland China, where the virus first exploded, more than 80,000 people have been diagnosed and more than 58,000 have so far recovered.