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New York, US
Friday, February 28, 2020
(Reuters) - The Dow Jones Industrials slumped more than 1,000 points in intraday trading for the third time this week on Friday, as the rapidly spreading coronavirus outbreak raised fears of global recession. A screen shows the Dow Jones Industrial Average after the close of trading on the...
Disinfection professionals wearing protective gear spray anti-septic solution against the coronavirus (COVID-19) at a subway station on February 28, 2020 in Seoul, South Korea.Chung Sung-Jun | Getty ImagesThe coverage on this live blog has ended — but for up-to-the-minute coverage on the coronavirus, visit the live blog from...
(Reuters) - U.S. stock index futures dropped on Friday as a surge in coronavirus cases, which have already wiped nearly $3 trillion off stocks listed on the benchmark S&P 500 this week, triggered recession fears. The index confirmed its fastest correction in history in volatile trading in...
A pedestrian wears a face mask while pushing a stroller past the Tiffany & Co. luxury goods store at Times Square in the Causeway Bay district of Hong Kong, China, on Thursday, Feb. 6, 2020.BloombergIf the coronavirus spreads in the U.S., that could mean really bad news for...
LONDON (Reuters) - Three former Barclays (BARC.L) executives were acquitted in London on Friday of charges they helped funnel 322 million pounds ($418 million) in secret fees to Qatar in return for rescue financing during the credit crisis. Former Barclays banker Richard Boath leaves the Old Bailey Central...
David Beckham addresses the crowd during the press conference announcing an MLS franchise in Miami at the Knight Concert Hall on January 29, 2018 in Miami, Florida.Getty ImagesSoccer legend David Beckham says his "perseverance, stubbornness and just bloody-mindedness" kept him motivated to get his new team, Inter Miami,...
LONDON (Reuters) - British Airways-owner IAG (ICAG.L) said on Friday that coronavirus would hit its earnings this year but it wasn’t sure by how much, becoming the latest airline to warn about the impact of the rapidly evolving outbreak. A British Airways aircraft takes off from Heathrow Airport...
The coronavirus outbreak is likely to hit China's economy over the course of two quarters, Stephen Roach said on Friday."The Chinese economy is flat-lining right now," said Roach, who is a senior fellow at Yale University."The impact of unprecedented quarantines and restrictions on travel have brought the Chinese...
Swiss bank UBS CEO Sergio Ermotti addresses a news conference in Zurich, Switzerland February 20, 2020. REUTERS/Arnd WiegmannZURICH (Reuters) - UBS (UBSG.S) Chief Executive Sergio Ermotti cashed in less money in 2019 as the bank made pay concessions related to a French tax case and missed earnings...
Customers walk past near empty shelves in frozen food refrigerators at a supermarket in Shanghai, China, on Wednesday, Feb. 12, 2020.Qilai Shen | Bloomberg | Getty ImagesMany big companies say they've already taken a big hit in 2020 from the coronavirus with a "major decrease" in demand from...

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Stocks pare losses slightly; Fed chair vows to support economy as appropriate

(Reuters) - The S&P 500 pared losses slightly after the U.S. Federal Reserve Chair Jerome Powell said the economy was solid though coronavirus...