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CNBC FinanceFeb 28, 2020
Dow set to drop more than 500 points after Thursday's massive tumble amid coronavirus fears
U.S. stock futures opened lower on Thursday night, building on the steep declines suffered by the major stock index that sent them more than 10% below their record highs.

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'We're treated like criminals': South Korean sect feels coronavirus backlash - The Guardian (Google Business News)

CNBC BusinessFeb 28, 2020
Coronavirus live updates: New Zealand reports first case, Tokyo Disneyland shuts down
New Zealand confirmed its first coronavirus case on Friday, a person who returned from Iran.

Yahoo BusinessFeb 28, 2020
World Stock Rout Extends With U.S. Futures Sliding: Markets Wrap
(Bloomberg) -- Fear gripped Asian markets Friday and U.S. futures extended losses after the biggest rout for equities on Wall Street since 2011, with investors flocking to the yen to find shelter from the economic impact of the spreading coronavirus.With the likes of Citigroup Inc. analysts saying they want to see markets "closer to panic" before going all-in on global equities, there was no appetite for dip-buying ahead of the weekend. Japan's Topix Index slid over 4%, and Shanghai and Sydney saw declines of in excess of 3%. Nasdaq futures tumbled more than 2% after a 5% plunge Thursday and European contracts indicated another big slide at the open.New Zealand's dollar fell 1%-plus as the country reported its first case of the virus and investors bet on policy easing from the central bank. Meantime, crude oil collapsed below $46 a barrel. U.S. and Australian 10-year yields were at or near record lows.Global shares are on course for the worst week since the 2008 crisis, down more than 10% from this month's peak. That's after California said it's monitoring 8,400 people for signs of the virus after they had traveled to Asia, confirmed cases in South Korea topped 2,000 and Japan began shutting down schools."The markets are terrified that the disruption is going to hit GDP and then will hit profits at some stage," Andrew Freris, chief executive of Ecognosis Advisory Co in London, told Bloomberg TV. "The only thing central banks can do is cut interest rates, and cutting interest rates isn't going to do a

Wall Street Journal US BusinessFeb 28, 2020
Baidu Warns of Revenue Drop, Signaling Trouble for China's Private Sector
Chinese search-engine giant Baidu warned its first-quarter revenue could drop 5% to 13% as the coronavirus epidemic wallops many of the sectors that fuel its bread-and-butter advertising business.

FT.com - Financial MarketsFeb 28, 2020
Gold surges on spread of coronavirus
The yellow metal rallies as it is bought as a hedge to a global downturn

Reuters BusinessFeb 28, 2020
Oil prices on track for biggest weekly decline in over four years
Oil prices plunged to their lowest in more than a year on Friday, putting them on track for the biggest weekly decline in more than four years, as the rapid spread of the coronavirus stoked fears of slowing global demand.

FT.com - Financial MarketsFeb 28, 2020
Coronavirus latest: Hong Kong dog quarantined over infection fear
Both robot adoption and Chinese import competition between 1990 and 2015 caused large declines in manufacturing employment across US local labor markets (commuting zones, CZs). However, only robots were associated with a decline in CZ population, which resulted from reduced in-migration rather than by increased out-migration.

Reuters BusinessFeb 28, 2020
Malaysia's AirAsia X defers A330neo deliveries as coronavirus crimps demand
Malaysian long-haul budget airline AirAsia X Bhd said it will defer delivery of 78 Airbus SE A330neo planes and consider other changes to reduce its fleet as the coronavirus dents demand.

Reuters BusinessFeb 27, 2020
World stocks set for worst week since 2008 as virus stokes recession fears
World share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and trigger a global recession.

MarketWatch MarketPulseFeb 27, 2020
Tokyo Disney theme parks to close for 2 weeks over coronavirus fears
The operator of Tokyo Disney Resorts announced Friday its theme parks would close for two weeks in an effort to help prevent the spread of coronavirus. Oriental Land Co. , which operates the parks, said it hopes to reopen Tokyo Disneyland and Tokyo Disney Sea on March 16. Oriental Land pays licensing fees to Walt Disney Co. but has no other capital relationship with the entertainment giant. Disney has already shut two of its Chinese theme parks, in Hong Kong and Shanghai, over coronavirus worries. Oriental Land said it made the decision to comply with a request by the Japanese government to cancel or delay public events for the next two weeks. On Thursday, Japan ordered all schools to be closed until the end of March.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



FT.com - Financial MarketsFeb 27, 2020
Asia stocks extend falls on coronavirus fears
Japanese shares slide into correction territory following rout on Wall Street

Reuters Company NewsFeb 27, 2020
UPDATE 2-Hyundai shuts down factory after worker tests positive for coronavirus
A Hyundai Motor worker has tested positive for the new coronavirus, leading to a suspension of production at one its factories in South Korea's southeastern city of Ulsan, the company said on Friday.

MarketWatchFeb 27, 2020
Asia Markets: Asian markets continue to slump, as Nikkei enters correction territory
Asian stocks fell sharply lower in early trading Friday, as Japan's Nikkei sank to into correction territory as coronavirus fears continued to rattle global markets.

NYTimes BusinessFeb 27, 2020
Coronavirus Fears Drive Stocks Down for 6th Day and Into Correction
The virus, which has now spread to 47 countries, has put pressure on businesses and supply chains around the world.

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Investors ditch market risk as stocks fall into correction (Reuters Business)

Yahoo BusinessFeb 27, 2020
Coronavirus just sent the Dow crashing 1,100 points and it could get worse
Allianz chief economic advisor Mohamed El-Erian weighs in on the major selloff gripping Wall Street.


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Dow plunges 1,191 points, its biggest one-day point drop, as coronavirus fears escalate (USA Today Money)

MarketWatchFeb 27, 2020
Market Extra: How investors are using ‘alternative' data to track China's recovery from coronavirus
Investors are employing high-frequency "alternative" data that isn't offered by government statistics agencies to get a read on China's recovery from COVID-19.

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40% of biggest companies say coronavirus caused 'major decrease' in demand from China: CFO survey (CNBC Business)

Reuters BusinessFeb 27, 2020
Oil prices fall again, on track for biggest weekly drop in over 4 years
Oil prices fell for a sixth straight session on Friday and were on track for about a 12% weekly fall, the biggest in more than four years, as the spread of the coronavirus outside China raised fears of slowing global demand.

Reuters Company NewsFeb 27, 2020
GLOBAL MARKETS-World stocks set for worst week since 2008 as virus fears grip markets
* Safe-haven assets in demand, U.S. yield curve firmly inverted

Reuters Company NewsFeb 27, 2020
GRAINS-Wheat set for biggest monthly drop in 7 amid pandemic fears
U.S. wheat futures on Friday fell to their lowest in two-and-a-half months, as a rise in new coronavirus cases on shores beyond China fuelled fears of a pandemic, pushing the grain towards its biggest monthly drop since last July.

MarketWatchFeb 27, 2020
Market Extra: Here are 5 reasons the stock market is having its worst decline since 2008, and only one of them is the coronavirus
The virus has virtually crippled swaths of manufacturing in China, the second-largest economy in the world, and the country is a big buyer of products and services from other countries. U.S. technology companies such as Apple depend on Chinese supplies.

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Here are 5 reasons the stock market is having its worst decline since 2008, and only one of them is the coronavirus - MarketWatch (Google Business News)

CNBC BusinessFeb 27, 2020
Etsy shares pop 14% on strong quarterly report. CEO says company feels 'very resilient' to coronavirus impact
"A lot of people are worried about their supply chain," CEO Josh Silverman said, adding "Etsy makers are already working from home, so we feel resilient."

MarketWatchFeb 27, 2020
Market Snapshot: Stocks tumble for sixth straight day, finish in correction territory, on fears coronavirus will slow economy
U.S. stocks extended sharp losses for a sixth straight day Thursday, with benchmark indexes finishing in correction territory. as the global coronvirus epidemic disrupted international trade and travel.

Forbes HeadlinesFeb 27, 2020
BTS Cancels Concerts In South Korea Due To Coronavirus Scare
Fans in South Korea will have to wait to see the band on their next tour.

Reuters Company NewsFeb 27, 2020
UPDATE 2-Japan's Abe says ready to protect economy from coronavirus impact
* BOJ likely wary of topping up monetary stimulus (Adds market moves, context on chance of fiscal, monetary steps)

Google Business NewsFeb 27, 2020
Trump says coronavirus will 'disappear' eventually - CNN
Trump says coronavirus will 'disappear' eventually  CNNTrump frustrated by CDC's coronavirus severity warning  CBS This MorningThe 31 wildest lines from Donald Trump's self-congratulatory coronavirus press conference  CNNWhen a Pandemic Meets a Personality Cult  The New York TimesLiz Peek: Desperate Democrats hope coronavirus will undermine Trump  Fox News

Reuters Company NewsFeb 27, 2020
UPDATE 1-S.Korea boy band BTS cancels April Seoul concert on coronavirus concerns
South Korean boy band BTS canceled its scheduled April concert in Seoul, amid growing concerns of the new coronavirus outbreak, its music label, Big Hit Entertainment, said on Friday.

Google Business NewsFeb 27, 2020
Pence tells 'Hannity' risk of coronavirus spread in US 'remains low' thanks to Trump's 'decisive action' - Fox News
Pence tells 'Hannity' risk of coronavirus spread in US 'remains low' thanks to Trump's 'decisive action'  Fox NewsPence Will Control All Coronavirus Messaging From Health Officials  The New York TimesMeghan McCain scolds audience members after apparent applause for Pence failing on coronavirus  Fox NewsPence's new mission on coronavirus: A controlled message  The Washington Post

Reuters BusinessFeb 27, 2020
Facebook cancels developer conference as tech companies respond to virus
Facebook Inc said on Thursday it would cancel its annual developer conference due to fears over the coronavirus, as growing concerns about the economic impact of the global outbreak drove Wall Street to tumble for a sixth straight day.

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UPDATE 4-Facebook cancels developer conference as tech companies respond to virus (Reuters Company News)

Reuters BusinessFeb 27, 2020
Global shares head for worst week since 2008 financial crisis
Global share markets headed for the worst week since the darkest days of the financial crisis in 2008 as investors braced for the coronavirus to morph into a pandemic and derail world economic growth.

NYTimes BusinessFeb 27, 2020
Virus Disrupts China's Shipping, and World Ports Feel the Impact
Even where factories are back in operation, getting freight to docks has been impeded by roadblocks and quarantines.

CNBC BusinessFeb 27, 2020
Jim Cramer: 10 tech stocks to buy now in this coronavirus-plagued market
"If anything, some of them should do even better as this outbreak gets worse," the "Mad Money" host said.

MarketWatchFeb 27, 2020
What Apple, Microsoft, Nike and other U.S. companies are saying about the coronavirus outbreak
The new coronavirus that was first identified late last year in Wuhan, China, is a dominant theme in the earnings releases and conference calls of S&P 500 companies as investors press for answers on how it will impact their business.

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Goldman sees 'no earnings growth' for S&P 500 companies this year (MarketWatch MarketPulse)

Reuters Company NewsFeb 27, 2020
WRAPUP 2-World prepares for coronavirus pandemic; global recession forecast
Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, countries started stockpiling medical equipment and investors took flight in expectation of a global recession.

Reuters Company NewsFeb 27, 2020
Tokyo Disneyland to close through mid-March on coronavirus concerns
Tokyo Disneyland will be closed starting from Saturday through to March 15 amid an outbreak of coronavirus infections in Japan, operator Oriental Land Co Ltd said on Friday.

Yahoo BusinessFeb 27, 2020
Baidu says first-quarter revenue may tumble as coronavirus takes toll on business, advertising
"The rebound of the economy after the outbreak will continue to be a long-term project," Baidu CEO Robin Li said in an internal letter obtained by Reuters. The potential fall for first-quarter core revenue - sales made from advertising - was even steeper, with Baidu forecasting a slide of 10% to 18%. "Baidu will also struggle more than other internet companies in China due to its greater reliance on the advertising market," said Haris Anwar, an analyst at financial markets platform Investing.com.


Yahoo BusinessFeb 27, 2020
Korea Cases Top 2,000; Nigeria Confirms Infection: Virus Update
(Bloomberg) -- The number of new coronavirus cases in South Korea crossed 2,000. Japan is closing schools to limit the spread of the outbreak. New cases continue to appear outside of China with Italy, Iran and Kuwait reporting more infections. Nigeria confirmed its first case, the first reported in sub-Saharan Africa.Stocks tumbled with equity markets in Hong Kong, Japan and Australia all losing more than 2%. U.S. health authorities moved to greatly expand the number of people who will be tested, adding travelers from several new countries and people with unexplained, severe respiratory illnesses. California is monitoring 8,400 people for signs of the virus after they traveled to Asia.Key DevelopmentsConfirmed cases worldwide at 83,048; global deaths 2,858China death toll at 2,788, up 44; cases climb to 78,824, up 327South Korea confirms 256 more cases, bringing total to 2,022Limited virus testing in Japan masks true scale of infectionHong Kong dog found to have ‘low level' of virusCoronavirus crisis seeds chaos in Washington and on Wall StreetClick VRUS on the terminal for news and data on the coronavirus and here for maps and charts. For analysis of the impact from Bloomberg Economics, click here.Abe Adviser Says Japan Needs $45 Billion of Extra Spending (11:45 a.m. HK)An adviser to Prime Minister Shinzo Abe said Japan should compile another economic package with fresh spending of at least 5 trillion yen ($45 billion) to respond to a severe hit from the coronavirus outbreak."We should take it very s

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UPDATE 1-S.Korea coronavirus cases raises to 2,022, BTS cancels concert (Reuters Company News)

MarketWatchFeb 27, 2020
Market Extra: How bad is the coronavirus-sparked stock-market selloff? — the Dow's weekly skid would rank within the top 15 worst in its 124-year history
The depth of the slide for stocks this week can perhaps best be illustrated by the severity of the skid for the 124-year-old Dow Jones Industrial Average.

The Motley FoolFeb 27, 2020
Crude Oil Crashes 13% on Coronavirus-Induced Fears
A big jump in Coronavirus cases around the world is creating turmoil in an oil market that's already oversupplied.

FT.com - USFeb 27, 2020
Saudis seek bigger oil cut as coronavirus slashes demand
Exclusive: Kingdom pushes for deeper Opec reductions in face of crude price slump

MarketWatchFeb 27, 2020
NewsWatch: How bad is the coronavirus-sparked stock-market selloff? — the Dow industrials weekly skid would rank within its top 15 in its 124-year history
The depth of the slide for stocks this week can perhaps best be illustrated by the severity of the skid for the 124-year-old Dow Jones Industrial Average.

Yahoo BusinessFeb 27, 2020
Baidu Becomes Latest Tech Giant to Deliver Disappointing Outlook
(Bloomberg) -- Baidu Inc. predicted revenue may slide as much as 13% this quarter, joining its fellow technology giants in warning about the impact of the deadly coronavirus.China's internet search leader forecast a 5% to 13% plunge in sales to between 21 billion yuan ($3 billion) and 22.9 billion yuan in the March quarter, missing an average projection for 23.4 billion yuan. Its U.S.-traded shares slid as much as 1.6% in extended trading.From Microsoft Corp. and Apple Inc. to Alibaba Group Holding Ltd., the world's largest corporations have either scaled back on projections or warned of a hit to their operations from Covid-19. Apart from the uncertainty of the outbreak, Baidu has been grappling with a slowing home economy and competition from upstarts like ByteDance Inc. that've lured advertisers away and depressed marketing rates. Chief Executive Officer Robin Li said it will take time for the world's No. 2 economy to recover."The return of economic growth will be a long-term issue after the epidemic, but many new opportunities are emerging," the billionaire founder told employees in an internal memo obtained by Bloomberg.Certain businesses can thrive despite the epidemic, including online entertainment and education, Li added. Baidu's Netflix-style unit iQiyi Inc. projected a better-than-expected revenue gain of 2% to 8% this quarter."The virus has affected consumer spending, so naturally advertisers will want to postpone their budgets," said David Dai, a Hong Kong-based analyst with Bernstein

Google Business NewsFeb 27, 2020
Stock futures point to more losses after Thursday's massive tumble amid coronavirus fears - CNBC
Stock futures point to more losses after Thursday's massive tumble amid coronavirus fears  CNBCCoronavirus could cost Trump the election, Goldman Sachs warns  CNNDow's point drop worst on record as stocks fall into correction  Fox BusinessHere's how long stock market corrections last and how bad they can get  CNBC
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