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Yahoo BusinessFeb 27, 2020
S&P 500 Futures Drop on U.S. Virus Case Without Outbreak Ties
(Bloomberg) -- U.S. stock index futures slid after American health authorities said they've identified the first case of coronavirus that doesn't have known ties to an existing outbreak.March contracts on the S&P 500 Index were down 1.4% as of 2:35 p.m. in Tokyo, after the U.S. Centers for Disease Control and Prevention said the patient doesn't appear to have traveled to China or been exposed to another known case of the virus. Contracts also dropped after a speech by President Donald Trump failed to assuage investors' concerns of the novel coronavirus derailing global growth. Euro Stoxx 50 futures declined 2.7%."President Trump's press conference was certainly intended to be a confidence builder but I don't believe it will have much impact on stocks," said Kristina Hooper, chief global market strategist at Invesco. "The drop in futures illustrates that words from politicians are meaningless. I believe it will take assurances from the Fed to send futures in the opposite direction."Trump sought to calm markets after one of the worst stretches for American stocks in almost five years. The underlying index is mired in a five-day losing streak that wiped out more than $2 trillion in value from American equities.The U.S. urged travelers to reconsider trips to South Korea as the country's number of cases rose to more than 1,500. New infections were diagnosed in countries from Pakistan to Brazil. Saudi Arabia halted religious visits that include stops in Mecca and Medina."Investors will be looking at tod

MarketWatchFeb 26, 2020
Market Extra: Wall Street exchanges brace for coronavirus outbreak, as Trump says ‘every aspect of our society should be prepared'
Major exchanges on Wall Street believe they are ready to deal with the effects of COVID-19, the infectious disease that is derived from the novel strain of the viral outbreak that reportedly originated in Wuhan, China, late last year and is rapidly sickening people outside of the country.

MarketWatch MarketPulseFeb 26, 2020
Gilead announces more trials for drug aimed at COVID-19, stock up 4%
Shares of Gilead Sciences Inc. rose nearly 4% in the extended session Wednesday after the pharma company said it had started two clinical studies to gauge the safety and efficacy of its remdesivir drug in adults diagnosed with COVID-19. Beginning in March, the studies will enroll about 1,000 patients at medical centers primarily in Asian countries as well as countries with a high numbers of diagnosed cases, Gilead said in a statement. The initiation of these studies follows the U.S. Food and Drug Administration's rapid review and acceptance of Gilead's investigational new drug filing for remdesivir. The new studies expand ongoing research into remdesivir, including trials in China and Japan and a NIH-sponsored study announced earlier this week that is the first in the U.S. Remdesivir, a broad-spectrum anti-viral drug, is not yet licensed or approved anywhere. Shares of Gilead ended the regular trading day up 6.6%.

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.


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