Wall Street jumps after worst day since 1987
U.S. stock markets opened sharply higher on Friday after their worst daily selloff in more than three decades as investors hoped more fiscal easing would head off a global recession.
U.S. stock markets opened sharply higher on Friday after their worst daily selloff in more than three decades as investors hoped more fiscal easing would head off a global recession.
Morocco on Friday suspended all flights and passenger ship traffic to and from France, the state news agency said.
U.S. Treasury Secretary Steven Mnuchin on Friday said he expected the U.S. economic hit from the coronavirus outbreak to be short-term, and that the Trump administration was keeping its options open for any other future steps that may be needed.
"There's trillions of dollars on the sideline, waiting and waiting and waiting," CNBC's Jim Cramer said on "Squawk Box." "They've got what they've been waiting for."
The coronavirus epidemic is putting up to 50 million jobs in the global travel and tourism sector at risk, with travel likely to slump by a quarter this year, Asia being the most affected continent, the World Travel and Tourism Council said on Friday.
The Spanish health ministry said the number of coronavirus cases in the country jumped to 4,209 on Friday from Thursday's 3,004 e as the disease spread mostly in Madrid, the Basque Country and La Rioja regions.
Sudan on Friday reported its first confirmed coronavirus case, a man who died on Thursday and had visited the United Arab Emirates in the first week of March.
The number of deaths in people with the coronavirus in the Netherlands has doubled to 10, Dutch health authorities said on Friday.
Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people's student loan payments as part of a larger strategy to mitigate the economic consequences of the coronavirus.
The Chinese city of Wuhan, ground zero of the coronavirus outbreak, reported just five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.
Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 4% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.
The U.S. Food and Drug Administration (FDA) issued emergency authorization for a faster coronavirus test made by Swiss diagnostics maker Roche and allowed New York state to authorize certain labs to test for the virus, moves aimed at boosting screening capacity to help contain the growing epidemic.
U.S. stock indexes rebounded on Friday as investors bet on another round of fiscal easing to thwart a looming global recession in the face of the coronavirus pandemic.
Xerox Holdings Corp, which is in a proxy fight for control of HP Inc, said on Friday it would postpone meetings with shareholders of the personal computer maker amid the coronavirus outbreak.
Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people's student loan payments as part of a larger strategy to mitigate the economic consequences of the coronavirus.