The Trump administration may take targeted steps to stimulate the U.S. economy amid the coronavirus outbreak that is likely to temporarily drag down some sectors, White House economic adviser Larry Kudlow said on Friday, adding that more information was needed first.
Bargain-hunting investors are eyeing the shares of airlines, hotels, cruise lines and other companies that have been among the worst-hit by the coronavirus outbreak.
Wall Street was set for a steep drop at the open on Friday as heightened fears about the economic damage from the coronavirus epidemic drove investors to perceived safe havens such as bonds and gold.
US employers maintained a robust pace of hiring in February, giving the economy a strong boost as it confronts the coronavirus outbreak that has stoked financial market fears of a recession and prompted an emergency interest rate cut from the Federal Reserve.
WeDoctor will push ahead with a Hong Kong listing and invite pitches from investments banks next week to lead an IPO valuing the Chinese healthcare platform at up to US$10 billion, two sources with direct knowledge of the matter said.
The US trade deficit narrowed more than expected in January as imports declined, and further decreases are likely as the coronavirus outbreak disrupts the flow of goods and services.
The Federal Reserve will cut U.S. interest rates by 25 basis points later this month but it is a close call, according to a Reuters poll of economists who have substantially raised their forecasts for the chances of a recession following the coronavirus outbreak.
Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified.
The world's largest coffee chain Starbucks Corp has stopped accepting reusable cups from customers to prevent the spread of coronavirus, though it will still honor the promised discount for anyone carrying one.
Global stock markets tumbled and government bonds rallied on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown.
