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NYTimes BusinessFeb 25, 2020
Coronavirus Live Updates: Spanish Hotel Is Latest Site of Possible Outbreak
An Italian doctor staying at a resort in the Canary Islands has tested positive for the virus. New outbreaks in Europe, Asia and the Middle East are renewing fears of a coming global pandemic.

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RPT-Citi, Credit Suisse among banks curbing Italy trips on coronavirus fears - sources (Reuters Company News)
Novel coronavirus cases top 80,000 as markets plunge on pandemic fears - CNN (Google Business News)

MarketWatchFeb 25, 2020
Europe Markets: European stocks edge lower after Monday's pounding over spreading virus
European stocks drifted lower in volatile trade Tuesday as markets failed to set a floor after the pounding it took over the spread of the coronavirus in Italy and in South Korea.

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Stock Markets Stabilize After an Outbreak-Inspired Slump (NYTimes Business)

Forbes HeadlinesFeb 25, 2020
Coronavirus Fears Cause Mortgage Rates To Tumble As Investors Flee To Safe Havens
Investors are fleeing to safe-haven investments amid coronavirus fears, pushing U.S. mortgage rates to new lows.

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Oil prices rise on bargain-hunting; virus fears cap gains (Reuters Business)
UPDATE 2-Oil prices rise on bargain-hunting; virus fears cap gains (Reuters Company News)

CNBC FinanceFeb 25, 2020
Dow set to bounce following its worst drop in 2 years
U.S. stock index futures were higher Tuesday morning, following the market's worst decline in two years on coronavirus.

FT.com - Financial MarketsFeb 25, 2020
Coronavirus latest: Markets steady after sharpest tumble since 2018
SFO probe into oilfield services group has led to a dropoff in new orders

FT.com - China, Economy & TradeFeb 25, 2020
China charters flights to get people back to work
World's second-largest economy begins to restart after coronavirus shutdown

Yahoo BusinessFeb 25, 2020
Gilead Drug Result Due in April; Cases Top 80,000: Virus Update
(Bloomberg) -- The U.S., Japan and Hong Kong issued travel warnings for South Korea, which reported 84 new coronavirus infections for a total tally of 977. Italy, the outbreak's epicenter in Europe, might seek flexibility on some budget targets.Globally, 80,130 people have now been infected and 2,698 have died. South Korea, the worst-affected country after China, reported 10 deaths. The head of the World Health Organization had earlier called the new cases "deeply concerning," but said the outbreak isn't yet a pandemic.China plans to release results from clinical trials of a Gilead Sciences Inc. drug in April.Key DevelopmentsChina death toll 2,663, up 71; total mainland cases at 77,658Hubei province reports 68 additional deaths, and 499 new casesTrump administration seeks $2.5 billion in supplemental fundingHong Kong schools extend closure, Indonesia plans stimulusClick 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.European Corporate Bond Market in Deep Freeze (4:50 p.m. HK)Global borrowers shunned Europe's corporate debt market for a second day as a cluster of new coronavirus cases in Italy sent yields sharply higher, bringing sales of new bonds to a near standstill.ING Groep's downsized debt offering is the only deal priced so far this week, which had been expected to deliver more than 20 billion euros ($22 billion) of sales, according to a Bloomberg News survey. Non-financial borrowers are nowhere to

Reuters Company NewsFeb 25, 2020
China says WSJ reporter in Wuhan can remain in country until end of epidemic
China's foreign ministry said on Tuesday that one of the three Wall Street Journal reporters who were ordered to leave the country can remain in China as she is stranded in Wuhan, the epicentre of the coronavirus outbreak.

Yahoo BusinessFeb 25, 2020
A Global Pandemic Could Cost $1 Trillion
(Bloomberg) -- The worrying prospect that the coronavirus outbreak could become the first truly disruptive pandemic of the globalization era is renewing doubts over the stability of the world economy.With the death toll approaching 3,000, over 80,000 cases officially recorded and an outbreak in Italy now shutting down the richest chunk of its economy, some economists are beginning to war game what an untethered outbreak could mean for global growth.Those at Oxford Economics Ltd. reckon an international health crisis could be enough to wipe more than $1 trillion from global gross domestic product. That would be the economic price tag for a spike in workplace absenteeism, lower productivity, sliding travel, disrupted supply chains and reduced trade and investment.Investors are already nervous, with U.S. stock benchmarks slumping more than 3% on Monday and the S&P 500 Index dropping the most since February 2018.For now, central bankers and governments continue to bet that the coronavirus will not damage the world economy by much, and perhaps allow it to enjoy a rapid rebound once the illness fades. But that confidence is being tested.While the International Monetary Fund currently reckons the virus will only force it to knock 0.1 percentage point off its 3.3% global growth forecast for 2020, IMF Chief Economist Gita Gopinath said in a Yahoo Finance interview that a pandemic declaration would risk "really downside, dire scenarios."The head of the World Health Organization called the new cases "deeply concerning," but said the outbreak isn't yet a p

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Japan warns of rapid coronavirus spread after global market sell-off (FT.com - US)

Reuters Company NewsFeb 25, 2020
UPDATE 2-Oil Search works to revive Exxon, Papua New Guinea talks on LNG expansion
* Sees coronavirus impact on LNG demand as temporary (Recasts with Oil Search CEO comments)

Google Business NewsFeb 25, 2020
Coronavirus outbreak: Italian officials confirm seven deaths - Al Jazeera English
Coronavirus outbreak: Italian officials confirm seven deaths  Al Jazeera EnglishCoronavirus Tests Europe's Open Borders as Italy Death Toll Rises  The Wall Street JournalIs it safe for travelers to visit Italy?  CNNPhotos show Italy on lockdown because of a spike in coronavirus cases - Business Insider  Business InsiderCoronavirus: Italian towns on lockdown amid disease outbreak  The TelegraphView Full Coverage on Google News

Reuters BusinessFeb 25, 2020
Oil steadies on bargain-hunting; virus fears cap gains
Oil steadied on Tuesday as investors sought bargains after crude benchmarks slumped almost 4% in the previous session, although concerns about the coronavirus spreading out of China denting major economies and curbing fuel demand capped gains.

Google Business NewsFeb 25, 2020
Coronavirus: South Korea to test 200,000 sect members as pandemic fears hit markets - The Guardian
Coronavirus: South Korea to test 200,000 sect members as pandemic fears hit markets  The GuardianCoronavirus: New global outbreaks emerge - BBC News  BBC NewsGlobal outbreak causes coronavirus pandemic fears after cases jump in Italy, South Korea and Iran  Fox NewsIs the Coronavirus Outbreak a Pandemic Yet?  The New York Times

Reuters Company NewsFeb 25, 2020
Nikkei closes at 4-month low as coronavirus spreads beyond Asia
* About 98% of main board shares in red, highest ratio in 2 years

FT.com - Financial MarketsFeb 24, 2020
Asian stocks and US futures rise after sell-off
Global markets show signs of recovery a day after coronavirus outbreak prompts plunge

The Motley FoolFeb 24, 2020
Why Big Box Retail Stocks Fell Today
Shares of major retailers, including Bed Bath & Beyond, Macy's, and Best Buy, sold off on news related to the spreading coronavirus outbreak.

Reuters Company NewsFeb 24, 2020
UPDATE 3-Caltex Australia fields more suitors, appoints temporary CEO
* Refiner faces tough market with coronavirus uncertainty (Recasts with CEO comments on suitors, market conditions)

Google Business NewsFeb 24, 2020
White House submits $1.25 billion emergency request as part of $2.5 billion coronavirus effort - CNN
White House submits $1.25 billion emergency request as part of $2.5 billion coronavirus effort  CNNTrump faces ‘black swan' threat to the economy and reelection  POLITICOTrump administration asks Congress for $2.5B to combat coronavirus  Fox NewsVirus concern grips Washington as Trump dispenses optimism  CNN

Yahoo BusinessFeb 24, 2020
Oil bounces as investors hunt bargains; virus fears cap gains
Oil rose on Tuesday as investors snapped up bargains after crude benchmarks dropped almost 4% in the previous session, but fears that the spreading coronavirus could wreak far greater economic damage than initially thought capped gains. U.S. crude futures climbed 22 cents, or 0.4%, to $51.65, recovering from a 3.7% drop in the previous session. "WTI has regained some ground as investors looked for bargains and as the (U.S.) benchmark slipped neared a key support level of $50 per barrel," said Satoru Yoshida, a commodity analyst with Rakuten Securities.


Yahoo BusinessFeb 24, 2020
Hong Kong Stocks Trade Near Lowest Versus World Since 2004
(Bloomberg) -- Hong Kong stock investors are the worst off in 16 years relative to the rest of the world as concerns mount over the impact of the coronavirus on an economy already reeling from last year's protests.The Hang Seng Index is near its lowest level relative to the MSCI All Country World Index since 2004, even after Monday's brutal sell-off in the U.S. The Hong Kong gauge has also decoupled from mainland equities, falling to a three-year low relative to the CSI 300 Index.Hong Kong already faced a gloomy outlook before the coronavirus emerged, as months of political unrest pushed the city's economy into recession. Tourism has disappeared and retail is suffering, while concern over the impact of the virus on Chinese earnings is also weighing on mainland companies traded in the city."Hong Kong has a rather unbalanced economy, which relies heavily on sectors like retail and tourism that will be hit hard by the virus due to less mainland visitors," said Ronald Wan, chief executive of Partners Capital International Ltd. "It's a market with high risk at the moment."The Hang Seng Index rose 0.1% as of 9:42 a.m. Tuesday while the CSI 300 index dropped 0.7%.City officials aren't offering much optimism to investors. Paul Chan, the city's financial secretary, wrote last week that Hong Kong is facing "tsunami-like" shocks and may incur a record budget deficit in the next fiscal year, with coronavirus impacts being felt beyond retail, restaurants and tourism.Hong Kong, restrained by a currency peg to the U.S. dolla

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World Bank's pandemic bonds sink as coronavirus spreads (FT.com - Financial Markets)

Google Business NewsFeb 24, 2020
Trump asking Congress for $2.5 billion to fight coronavirus: White House - Reuters
Trump asking Congress for $2.5 billion to fight coronavirus: White House  ReutersTrump faces ‘black swan' threat to the economy and reelection  POLITICOTrump administration asks Congress for $2.5B to combat coronavirus  Fox NewsOn The Money: Dow drops over 1,000 points on coronavirus fears | Trump asserts outbreak 'under control' as stocks plunge | White House to seek emergency funds | Housing advocates decry Trump budget cuts |

The Motley FoolFeb 24, 2020
These Oil Stocks Fell Today as Crude Prices Crashed
Coronavirus fears are spreading outside China, and crude oil prices are plummeting.

MarketWatch MarketPulseFeb 24, 2020
Expedia to slash about 3,000 jobs in cost-cutting move: report
Expedia Group Inc. will cut about 3,000 jobs, including around 500 at its Seattle headquarters, to reduce costs, Geekwire reported Monday. Geekwire obtained an internal email from Expedia announcing the layoffs, which add up to about 12% of its workforce. "We have been pursuing growth in an unhealthy and undisciplined way," the Expedia email said, according to Geekwire. "Today, we are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization." In its quarterly earnings report earlier this month, Expedia said it expects between $300 million and $500 million in run-rate cost savings across its business this year, though it did not mention layoffs. Expedia shares were hammered Monday, falling 6.5%, but the job cuts do not appear related to coronavirus worries, although last week the online travel site said it expects a $30 million to $40 million impact on adjusted first-quarter EBITDA as a result of the outbreak.

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.



RELATED ARTICLES
Expedia Will Cut 3,000 Jobs to Simplify ‘Bloated' Business (Yahoo Business)
Japan shares dive, bond markets bet virus will force rate cuts (Yahoo Business)

CNBC BusinessFeb 24, 2020
WHO calls Iran and Italy cases 'deeply concerning,' Goldman cuts GDP forecast
As of Monday, more than 79,400 cases of coronavirus have been reported, resulting in at least 2,621 deaths.

CNBC BusinessFeb 24, 2020
US airlines waive cancellation fees for South Korea flights as coronavirus spreads beyond China
It comes as the U.S. Centers for Disease Control and Prevention warned travelers to avoid non-essential travel to South Korea, where the disease has sickened close to 900 people.

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Dow ends down over 1,000 points on coronavirus fears, turns negative for year (MarketWatch Breaking News)
U.S. oil prices settle down nearly 4% as coronavirus outbreak spreads (MarketWatch MarketPulse)
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