Countries around the world are struggling to keep up with the coronavirus demick Global Stock Markets and how to target a week with some of the worst losses in over 30 years so whats the economic fallout and kind of a global recession. Story. Hello again im James Burrows its the worlds Biggest Health emergency the corona Virus Outbreak is now a pandemic and there are fears it could lead to a catastrophic Global Economic crisis sweeping containment measures have disrupted markets around the world including the u. S. A travel ban on 26 European Countries came into effect on friday and the unprecedented move sent stocks crashing to their worst losses in over 30 years on wall street the Dow Jones Industrial average sank 10 percent on thursday its biggest plunge since the black monday crash of 1907 while european markets showed some signs of recovery on friday throughout the week Global Stock Markets saw their steepest decline since the 2008 financial crisis wiping out billions across the e
Coronavirus cases climb, worries as the number of u. S. Cases increases without links to and outbreak. Joins apple and hp in scrapping its outlook on the virus. Standard chartereds cfo tells bloomberg it is too soon to say how bad it will be. Quit, factors will probably come through in march and beyond. The uncertainty at the moment is which markets is in which markets it will affect things. Matt europe on other. Matteo salvini tells bloomberg the Prime Minister is underestimating the threat. We are live in rome as Giuseppe Conte meets Frances Emmanuel macron today. We take a look at futures. They are a little worse in the is. Compared to well, no, stand corrected. They have dropped much more now in europe. Its rare you see a move in this order. Percent. Res down 1. 7 u. S. Futures have recovered a bit. They are down less than 1 across the three major indexes, although just slightly in terms of the nasdaq, down almost 1 . And more risk off news anna, do you see more risk off news on th
Democrats actions are tantamount to treason. Ton has a, pellele poor showing this week. The eu starts to question Boris Johnsons ability to deliver the brexit deal by october 31. Talks resume in brussels today. Matt less than a halfhour from the european open. Dax futures gaining. 0. 2 . Utures up it does look like we could have a risk on start to todays trading session. Look at thehave a futures which suggest movement. Troubles by some of the distractions on capitol hill. Waiting for new headlines on trade and the Global Growth story. We see some weakness. When you look at the japanese markets, a lot of exdividends. Probably speaking we see weakness. The overall market is expected to go higher. We could see weakness in technology. Micron not as optimistic as they were. Andee the tech heavy index look for some reaction in the european markets. Lets talk to our colleague mark cudmore from the mliv team. You about our question of the day, what is needed to stop this flight to safety . Ha
The european markets were down a couple minutes ago. They are pretty much back up. It seems the feel good factor in u. S. Stocks have now petered out somewhat. Im looking at u. S. 10 year treasury yields, pretty much a picture of stability. The dollar off the trade bound. The dollar, gaining a touch. Coming up on bloomberg surveillance, we sit down with luca paolini, the chief strategist at Pictet Asset Management. Thewe will also break down saudi budget with the director of Economic Research at the Gulf Research center. First, lets get straight to the bloomberg first word news. Sebastian uber has lost the battle as it differs from traditional taxes. The car hailing app should be regulated. The eu court of justice ruling, think of the president sentting. British officials fear spain will threaten to veto, if negotiatey fails to with madrid. It has been in british hands since, 1713 but spain could make a claim over the land. To the u. N. Assador nikki haley is pressing other countries n
After another day of high Political Drama in washington attention will shift to the struggling us economy later today, as president Electjoe Biden outlines his plans for another massive economic stimulus package. The us economy lost nine millionjobs in 2020 the worst since records began in the 1930s and its in dire need of further support. Three weeks ago Congress Passed an economic aid deal worth 900 billion. But mr biden described that as a mere down payment on what he would push for once in office. According to reports he will seek another 1. 3 trillion of spending and would increase direct payments to americans to 2000 each as well as providing funds for local governments and vaccination programmes. Brian nick is chief investment strategist at the fund manager nuveen he s in new york. What is your expectation of what we can expect from this package . I think the number you haveis package . I think the number you have is probably right. What will be interesting is whether it will b