[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 […]
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There are plenty of productive ways to spend time while stuck indoors. While it’s undoubtedly fun to binge all 15 seasons of Supernatural or sink days of playtime into an Overwatch campaign, learning something new is definitely a more meaningful and long-term beneficial use of open hours. And if you’re going to invest time in […]