This is a live blog. Please check back for updates. All times below are in Beijing time. 8:30 am: Japan stocks plunge around 4% Japan’s plunged 3.97% in early trade as it returned from a holiday, following a selloff in U.S. stocks overnight. The Topix index also declined 3.92%. Shares in Australia also fell sharply, with the S&P/ASX 200 dropping 1.75%, after declining 2% earlier. 7:55 am: US and South Korea consider reducing training The U.S. and South Korea are considering a move to reduce military training due to risks from the virus outbreak, the defense ministers from both countries said Monday,
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Dow futures rise more than 150 points in overnight trading following the measure’s worst drop in 2 years
Stock futures bounced a bit on Monday evening following the market’s worst decline in two years on coronavirus fears. Futures on the Dow Jones Industrial Average were up by 34 points, while S&P 500 futures were higher by 0.2%. The slight gains came even as after the bell United Airlines and Mastercard warned about the potential impact the coronavirus will have on 2020 results. The shares added to their Monday regular session declines with United losing 0.6% and Mastercard dropping nearly 3% after hours. Investors fled the stock market rapidly in Monday’s session as a surge in coronavirus cases outside of
Investors must take precaution about the stocks they want to put their money in because the coronavirus outbreak is disrupting supply chains of many companies, CNBC’s Jim Cramer warned on Monday. American businesses are “far too dependent” on manufacturing products in China, he said. The comments came after the three major U.S. stock indexes plunged more than 3%. The Dow Jones Industrial Average shed more than 1,031 points, suffering its biggest losses in two years. Known as COVID-19, the virus is believed to have originated in the city of Wuhan in China’s Hubei province, where many factories are located. Wuhan
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TaxWatch: ‘They’re looking at where you live.’ If you’re wealthy and haven’t filed your taxes, the IRS could soon be ringing your doorbell
MarketWatch photo illustration/Getty Images, iStockphoto The IRS is stepping up efforts to ensure wealthy non-filers pay their taxes. Revenue officers from the Internal Revenue Service are fanning out across the country to tell wealthy taxpayers who haven’t filed taxes in at least a year that they need to pay up, the federal tax collector said this week. The in-person visits will target taxpayers who make at least $100,000 a year, according to the IRS, which said the visits were “part of a larger effort to ensure compliance and fairness.” Dozens of revenue officers are planning to make at least 800
A global security firm has pledged to create 1,000 jobs in the North East after choosing a business park in the region for its new site. Verisure, which is Europe’s largest burglar alarm provider, has signed up for offices at the Quorum Business Park, on North Tyneside, and is advertising roles in its marketing and operations teams. The company, which is investing £3m in the move, expects to have 100 people in place this year, but says that will grow to around 1,000 with roles in customer service, technical support, field operations, training, IT, telesales, HR and finance. Verisure has
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Image caption Georgia said she had been “fighting with Carrot back and forth to try and make sure they didn’t cancel my policy” Young people are being threatened with having their car insurance cancelled due to faults with an app that aims to make policies more affordable, the BBC has been told. Carrot Insurance uses phone data to measure journey length, acceleration and braking – but some say it often fails to work or wrongly records data. Tory MP Craig Tracey questioned whether it was “fit for purpose”. Carrot said it was “extremely sorry” some had had a “poor experience”.
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Coronavirus live updates: WHO calls Iran and Italy cases ‘deeply concerning,’ Goldman cuts GDP forecast
A pedestrian wearing a face mask walks past a stock indicator displaying share prices of the Tokyo Stock Exchange in Tokyo on February 3, 2020. BEHROUZ MEHRI | AFP via Getty Images This is a live blog. Please check back for updates. All times below are in Eastern time. Total confirmed cases: More than 79,400Total deaths: At least 2,621 8:07 am: Outbreak fears roil global markets U.S. stock futures pointed to sharp declines on Wall Street at the open on Monday as the number of coronavirus cases outside China surged, stoking fears of a prolonged global economic slowdown from the
Virgin Galactic’s spacecraft Unity reaches space for the first time. Source: Virgin Galactic Shares of Virgin Galactic plunged alongside the rest of the U.S. stock market in early trading Monday, as the speculative stock initially appeared susceptible to the broad sell-off that came amid increased coronavirus concerns. But then, heading into the last couple hours of trading, Virgin Galactic’s stock inexplicably reversed course. Shares of Virgin Galactic climbed nearly 8% on strong trading volume heading into the close. The space tourism stock recently became the favorite speculative investment on Wall Street. Virgin Galactic shares have seen a huge jump in
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A woman wear a protective mask in Venice, Italy, on February 23, 2020 due to concerns over coronavirus infection. The carnival was suspended due to the coronavirus outbreak in northern Italy. NurPhoto Ferrari has suspended tours of its factory and shut down museums near its headquarters following the outbreak of coronavirus in Northern Italy. Ferrari’s factory and headquarters are in Maranello, just south of the Lombardy region where a bulk of the more than 220 cases in the country are concentrated. Ferrari said it hasn’t halted production, but it has closed both Ferrari museums in Maranello and in Modena as
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Warren Buffett joins CNBC’s Becky Quick with an exclusive three-hour interview on Squawk Box Monday morning. Follow along below for the highlights. 6:25 am: “Very significant percentage of business” impacted by coronavirus As the ongoing coronavirus outbreak hits stocks, Buffett said “a very significant percentage of our businesses one way are effected.” He added, however, that the businesses are being affected by a lot of other things too, and said the real question is where those businesses are going to be in 5 to 10 years. “They’ll have ups and downs,” he said. Specifically, he pointed to Apple and Dairy
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