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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

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.



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.

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 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.

MarketWatch MarketPulseFeb 27, 2020
Goldman sees 'no earnings growth' for S&P 500 companies this year
Goldman Sachs slashed its outlook for S&P 500 corporate earnings in 2020, and now expects "no earnings growth" this year, as fears over the potential negative impacts of the coronavirus outbreak intensifies. Portfolio strategist David Kostin now expects aggregate S&P 500 earnings per share of $165, down from his previous estimate of $174, which represents 0% growth, and he lowered his 2021 outlook to $175 from $183 to now represent a 6% rise. "Our reduced forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for U.S. exporters, supply chain disruption, a slowdown in US economic activity and elevated uncertainty," Kostin wrote in a note to clients. The S&P 500 has lost 3.4% so far in February through Wednesday, and futures are shedding 1.6% ahead of the open.

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.



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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