Wall Street plunges on fears of coronavirus pandemic

The S&P 500 and the Dow Jones Industrial Average on Monday suffered their biggest one-day percentage losses in two years after a surge in coronavirus cases outside China fanned worries about the global economic impact of a potential pandemic.

Coronavirus Containment Window Shrinking As Virus Spreads to More Countries

Canada’s border measures to guard the country against incoming cases of the novel coronavirus, or COVID−19, will likely become less effective as transmission of the virus spreads to more countries outside of Canada, the country’s chief medical officer Dr. Theresa Tam said Monday.

Iran’s government and media lied about coronavirus outbreak, riots erupt

Iranians are scared and angry. Their government has been lying to them and their media was instructed not to report on the coronavirus outbreak as it rapidly spread from the religious city of Qom to other cities. On Saturday, Tehran was awash with rumors and riots occurred in the city of Talesh on the Caspian sea due to a quarantine.

Italy towns close down amid virus case clusters, 2 deaths

A dozen towns in northern Italy effectively went into lockdown Saturday after the deaths of two people infected with the new virus from China and a growing cluster of cases with no direct links to the origin of the outbreak abroad.

Fed calls coronavirus ‘a new risk to the global growth outlook’

The Federal Reserve considers its current policy stance as appropriate ‘for a time’ despite the coronavirus outbreak presenting a new threat to the global economy, minutes of the Federal Open Market Committee meeting held in January revealed on Wednesday.

China’s Hurting Banks Brace for Worst-Case Economic Scenario

The impact of the spreading coronavirus risks bringing to life the worst-case economic scenarios contained in China’s annual banking stress tests. Last year’s exercise envisaged annual economic growth slowing to as low as 4.15% — a scenario which showed that the bad loan ratio at the nation’s 30 biggest banks would rise five-fold. Analysts now say that the outbreak could send first-quarter growth to as little as 3.8%.

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