Central bankers and political leaders of the United States and other economic powers expressed their resolve to combat economic damage from the coronavirus on Tuesday, but stopped short of promising interest rate cuts or other immediate rescue measures.

The joint statement of solidarity from the leaders of the so-called G7 nations, which also includes Britain, Canada, France, Germany, Italy and Japan, was intended to show global coordination and cooperation. But it fell short of the more aggressive action that investors have been hoping for and that many economists say could help to prevent the virus outbreak from undermining global growth.

Investors were underwhelmed and markets in the U.S. opened down, with the S&P 500 index sliding as much as 0.8 percent in early trading. European stock indexes dropped on the G7 announcement before recovering some of those losses.

Global finance ministers and central bankers said they “are closely monitoring the spread of the coronavirus disease” and that “given the potential impacts” of the virus on global growth, “we reaffirm our commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside risks.”