[PHOTO: Chief nurse Ma Jing holds a patient’s hand to comfort her in the ICU (intensive care unit) of Zhongnan Hospital of Wuhan University in Wuhan, central China’s Hubei Province, Jan. 24, 2020. By Thursday midnight, Hubei Province in central China reported 549 cumulative confirmed cases of the new coronavirus pneumonia, with 495 in Wuhan, the provincial capital. Xinhua/Xiong Qi/PRC]
Recession fears are spreading, along with COVID-19. The coronavirus outbreak and unknowns about preparedness caused massive financial losses this week.
The Dow closed down 350+ points.
The S&P 500 dropped for the seventh day in a row, and posted its biggest drop in a single week since the 2008 financial crisis.
More from Reuters:
The S&P 500 fell for the seventh straight day on Friday and the benchmark index suffered its biggest weekly drop since the 2008 global financial crisis on growing fears the fast-spreading coronavirus could lead to a recession, although stocks cut losses at the end of the day’s session.
The Dow Jones Industrial Average .DJI fell 356.88 points, or 1.39%, to 25,409.76, the S&P 500 .SPX lost 24.7 points, or 0.83%, to 2,954.06 and the Nasdaq Composite .IXIC added 0.89 points, or 0.01%, to 8,567.37.
Read more:S&P 500 drops for seventh day, posts biggest weekly fall since 2008 crisis
On Friday, Disney announced that Disneyland Resort and Walt Disney World Resort will remain closed until further notice.
“They are putting us directly in harm’s way while profiting greatly. We cannot let this be considered normal.”
Cirque du Soleil just launched ‘CirqueConnect,’ where you can view shows — it’s especially great for kids stuck indoors during the pandemic shutdown. All of the company’s live shows are canceled due to the coronavirus crisis, and they are exploring financial options that include bankruptcy, reports Reuters. Las Vegas casinos and resorts, including the one […]
If you’re charting the fortunes of a business, one glance at the right columns can instantly detail that company’s health. If you want to see their current roster of customers, a spreadsheet can bring those clients into sharp focus. Make no mistake — the world of business is still dominated by the all-powerful spreadsheet. It’s […]
For wine lovers around the world, it’s all about discovery. Once they get a taste for the grape, oenophiles are rarely satisfied with even the most carefully curated, go-to vintages. There’s always a hunt for the next great pairing, the thrill of uncorking a bold new Tempranillo or sublime Moscato. That feeling is a jones […]
These toys and games can keep the kids busy while you’re all trapped inside. As rough as all this time cooped up inside the house is on us adults, it’s even worse for kids. All that borderline maniacal energy along with an unquenchable thirst for stimulation and attention make home sequestration like a life sentence […]