BREAKING: U.S. stocks tumble following a sell-off in Europe and Japan as the coronavirus outbreak grows. The Dow Jones Industrial Average drops 500 points in early trading as travel company stocks sink.
FILE - In this Jan. 8, 2020, file photo a trader works on the floor at the New York Stock Exchange in New York. The U.S. stock market opens at 9:30 a.m. EST on Monday, Jan. 27.
China announced it was extending its week-long public holiday by an extra three days as a precaution against having the virus spread still further. By midnight Sunday, the National Health Commission said 80 people had died out of 2,744 cases that were confirmed. Apart from the direct impact on tourism and travel, “any economic shock to China’s colossal industrial and consumption engines will spread rapidly to other countries through the increased trade and financial linkages associated with globalization,” Stephen Innes of AxiCorp said in a commentary.
Investors have been shifting money into safe-play, high-dividend stocks and government bonds.The surge in bond-buying has sent yields lower.
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FIFA Women’s World Cup, World Series Help Fox Sports Deliver Massive Digital Audience in 2019I’m a Los Angeles-based senior editor for Forbes, writing about the companies and people behind the biggest disruption in entertainment since cable TV: streaming video. I write about the tech juggernauts, the legacy media companies and the startups pioneering new ways to reach the consumer. I’ve spent more than 20 years covering the intersection of entertainment and technology. My work has appeared in some of the nation’s most prominent publications, including USA Today, U.S. News & World Report and the Los Angeles Times. As a senior editor at Recode, I won awards for coverage of the devastating cyberattack on Sony Pictures Entertainment. Email me at dchmielewski [at] forbes.com or follow me at dawnc331.
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