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Yahoo BusinessFeb 24, 2020
Oil Slides While Gold Heads to $1,700 as Virus Rocks Commodities
(Bloomberg) -- Renewed fears that the coronavirus will harm global growth rocked commodity markets again on Monday, with oil and metals prices tumbling while gold soared toward $1,700 an ounce amid a global flight to haven assets.As the deadly virus spreads more widely outside China, raising the threat of a global pandemic, finance chiefs and central bankers from the world's largest economies said they see downside risks to the world economy persisting.That's spurring fresh alarm in commodity markets that had started to recover from lows hit earlier in the month when China's virtual shutdown threw supply chains into chaos. With the International Monetary Fund cutting its global growth forecast and warning that it's also looking at more "dire" scenarios, investors are concerned that risks to raw material demand are worsening."With the volatility we're seeing in the coronavirus event, that's creating angst in the market on the back of growth and demand expectations and we've seen oil prices weaken," said David Lennox, a resource analyst at Fat Prophets in Sydney. "The converse of that is the same event is carrying investors toward a safe haven play and that's gold."Oil led the losses in Asian trade on Monday morning, tumbling more than 3% in London and New York. Until Friday, Brent crude had been in the longest run of gains in more than a year thanks to Chinese fiscal stimulus and new threats to supplies from Africa and Latin America.Industrial commodities are also getting hit hard, with copper sliding m

Google Business NewsFeb 23, 2020
Stock Futures Are Getting Hammered Because Coronavirus Is Still Spreading - Barron's
Stock Futures Are Getting Hammered Because Coronavirus Is Still Spreading  Barron'sDow set to drop more than 350 points at the open as coronavirus cases outside China surge  CNBCGlobal stocks fall as coronavirus continues to spread  CNNDow Futures Crash 520 Points as China Makes Shocking Coronavirus Confession  CCN.comU.S. stock - Financial MarketsFeb 23, 2020
Oil and Asia stocks fall as coronavirus spreads
Gold gains on signs epidemic is gathering pace in Italy and South Korea

CNBC BusinessFeb 23, 2020
Citi says fear of coronavirus in South Korea is spreading 'at a much faster rate' than the virus itself
Total number of cases rose to 763 on Monday morning, compared to 31 cases reported as of Feb. 18, according to the Korea Centers for Disease Control and Prevention.

Yahoo BusinessFeb 23, 2020
GLOBAL MARKETS-Shares drop, gold surges as investors scurry for safety
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East. South Korea put the country on high alert while the number of infections jumped to over 700 and deaths rose to seven. In Italy, officials said a third person infected with the flu-like virus had died, while the number of cases jumped to above 150 from just three before Friday.

Forbes HeadlinesFeb 23, 2020
Investors Are Suddenly Flocking To Safe Haven Assets As The Coronavirus Spreads
Ever since the new coronavirus reared its ugly head, the upbeat performance of global equities markets has confounded investors. Now suddenly, there is a rush to safety. Gold reached a 7-year high of over $1660.00 per troy ounce, bonds are surging, and Bitcoin is up 33% in 2020.

Reuters Company NewsFeb 23, 2020
WRAPUP 2-Global spread of coronavirus raises pandemic fears
* China says death toll up 150 to 2,592, infections rise by 409

Global shares drop, gold surges as investors scurry for safety (Yahoo Business)

Reuters BusinessFeb 23, 2020
Shares drop, gold surges as investors scurry for safety
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.

MarketWatchFeb 23, 2020
Futures Movers: U.S. stock futures sink on growing concern of outbreak's economic impact
U.S. stock market futures sank late Sunday as the spread of coronavirus raised worries that global economic growth could take a hit.

Korea Confirms 161 New Cases as Outbreak Spreads: Virus Update (Yahoo Business)

Yahoo BusinessFeb 23, 2020
How Strategists and Investors See Coronavirus Playing Out
(Bloomberg) -- A raft of new coronavirus cases in numerous countries outside China over the weekend has redoubled concern about the ability of the illness to spread, and potential economic impact.South Korea's Kospi dropped as much as 3.2% after the country's count of cases rose quickly to 763, and the government raised its infectious-disease alert to the highest level. Italy's government imposed a lockdown on an area of 50,000 people near Milan and took other measures as infections reached 140. Iran reported an eighth death with 43 cases. That's all on top of the impact on hardest-hit China, where millions of firms face potential collapse if banks don't act, though China's top leaders said in a statement after a meeting on Friday that they will exercise more flexibility in monetary and fiscal policy.Read: Hong Kong Sounds Warning; Italy Cancels Carnival: Virus UpdateHere's what strategists and investors are saying about the developments.Normal by July?"More near term panic will weigh on risk, but panic is necessary to increase containment odds. Credit markets appear to recognize that," said Dennis DeBusschere of Evercore ISI. "EISI's Survey team asked investors about the impact of the outbreak and the vast majority of respondents see both the risks as understated and expect U.S. Treasury yields were likely to decline by 25 basis points (to about 1.3%). 80% of investors expect supply chains to return to near-normal by July though." (The survey was published on Feb. 17.)Hard to Pick Bottom"With cases of

Yahoo BusinessFeb 23, 2020
Gold jumps over 2% as coronavirus spread spurs safe-haven demand
U.S. gold futures rose 1% to 1,665. "The thinking is that fewer people are holding shares, selling down in particular, and that money has to fall into havens," said Michael McCarthy, chief market strategist at CMC Market. Global equities extended losses as concerns about the spread of the virus beyond China grew with sharp rises in infections in Italy and Iran, while South Korea raised its infectious disease alert to its highest level.

Oil prices fall 2% on demand concerns as coronavirus spreads outside China (Yahoo Business)

Reuters BusinessFeb 23, 2020
Oil prices skid on demand concerns as virus spreads globally
Oil prices tumbled nearly 3% towards a one-week low on Monday as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand.
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