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MarketWatchJan 21, 2020
Europe Markets: European luxury stocks blasted over virus worries as UBS hit by lowered guidance
European stocks slumped on Tuesday as worries over a spreading virus in China as well as weak guidance from Swiss banking giant UBS weighed.

Yahoo BusinessJan 21, 2020
Stocks Decline With U.S. Futures; Treasuries Rise: Markets Wrap
(Bloomberg) -- European stocks dropped alongside U.S. equity futures on Tuesday, tracking broad declines across Asia amid a series of negative developments in Hong Kong and worries about a deadly virus in China.The Stoxx Europe 600 Index fell a second day, with banks among the biggest losers after UBS Group AG missed key profitability and cost targets. Retailers also retreated, with luxury stocks suffering on concern the outbreak of a new coronavirus in China will disrupt spending during a key holiday period. News of the illness spreading rattled Asian markets, with shares in Hong Kong hit particularly hard after a credit rating downgrade and a top official calling for new security legislation.Contracts on the three main U.S. equity benchmarks all pointed to a drop when Wall Street returns from the long weekend. The risk-off mood helped spur some traditional haven assets, with the yen and Treasuries advancing. The Chinese and South Korean currencies weakened. The pound turned higher after better-than-expected U.K. employment figures.Read more: China Virus Concern Hammers Asian Stock SentimentThe emergence of the illness in China is stirring memories of the SARS outbreak 17 years ago for some market watchers, though it's not yet as serious. Still, easing trade tensions, a solid start to earnings season and signs global growth is bottoming have all combined to stoke stocks to multiple records this month; for many investors it may be time for a pause."For the market, the more meaningful driver still remai

Reuters Company NewsJan 21, 2020
EMERGING MARKETS-Assets battered as China virus fears mount; Rand hits one-month low
Emerging market stocks and currencies took a beating on Tuesday as investors turned risk-averse on growing concerns over the coronavirus outbreak in China, while South Africa's rand hit a one-month low on a weak economic outlook.

Yahoo BusinessJan 21, 2020
U.S. Stock Index Futures Decline Amid China Virus Worries
(Bloomberg) -- U.S. stock index futures indicated a negative start after the long weekend, mirroring a sell-off in global equity markets as concerns over the spread of a SARS-like virus from central China prompted investors to book recent gains.S&P 500 Index futures contracts expiring in March fell as much as 0.5% after multiple medical workers were reported to have been infected. Dow Jones Industrial Average contracts were down 0.3% while those on the Nasdaq 100 retreated 0.6%. U.S. markets were closed Monday for Martin Luther King Jr. Day.Asian Tourism, Consumer Stocks Slip Amid Concern of Virus ImpactAsian stocks sank as risk-off sentiment roiled markets and spurred a flight to quality across assets. Gold and the yen climbed and China's yuan weakened by the most in three months. In Europe, the Stoxx 600 fell 1%, with miners, banks and consumer-related stocks leading losses.Worries over the virus come ahead of the Lunar New Year holiday, a busy Chinese traveling period, said Laura Fitzsimmons, executive director at JPMorgan Chase & Co."When we compare this situation with previous virus outbreaks, the level of Chinese travel now is way, way bigger than what we had before," she told Bloomberg TV in Sydney. "How much that industry has grown, how many more are traveling now -- it really does make things on a much larger scale."READ: Here's What Market Watchers Are Saying About the Virus SpreadHong Kong's equity index market fell the most in Asia as concerns linked to the virus in China added to a downgrade b

Yahoo BusinessJan 20, 2020
China Virus Outbreak Thwarts Most Bullish Stock Market in Years
(Bloomberg) -- A virus outbreak in China is sending shockwaves through the country's stock market, denting what had been growing enthusiasm toward shares.Consumer shares led losses in the FTSE China A50 Index of large caps Tuesday, which was set for its biggest drop in almost five months. Investors also sold crowd favorites such as liquor makers Wuliangye Yibin Co. and Kweichow Moutai Co., while travel operator China International Travel Service Corp. fell 3.5%. The offshore yuan slid as much as 0.5%, briefly trading on the weak side of 6.9 per dollar.The declines come just days before China celebrates the Lunar New Year, a typically strong season for traveling and consumer spending. Now, there's doubt that markets can continue their ascent after the week-long break."People are getting nervous and cashing out," said Wang Chen, a Shanghai-based partner with XuFunds Investment Management Co. He said his firm has cut some stock positions this week. "We have a long holiday coming up and the virus outbreak, and there was a bit too much hype in the market recently. Outflows via the northbound links and upcoming earnings season are also adding to caution.'Northbound stock links with Hong Kong will be shut for 5 trading days from Friday. After months of buying, foreigners had sold a net 5.1 billion yuan ($740 million) of mainland-listed shares as of the mid-day break, set for the most since early August.It marks an abrupt shift in market confidence, which was riding high as Beijing signed a phase one trade
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