NEW YORK: The Dow industrials posted its largest-ever drop in a single session on Thursday (Feb 27) as Wall Street led stocks across the globe ...
No country should make the"fatal mistake" of assuming it will be spared the coronavirus, the World Health Organization said, as governments from Iran to Australia shut schools, cancelled big events and stocked up on medical supplies in a race to contain the rapid global spread.
The dollar fell as investors bet that the Fed would cut interest rates to offset the impact of the spreading coronavirus. With US rates relatively high, and the scope for them to fall much wider, investors are selling the greenback. The coronavirus has now spread to 50 countries, with cases confirmed in the last day in the United States and Spain that appeared to be contracted locally.
"It's understandable that not only do you have something to worry about, which we haven't had for a while, but we're also due for a correction," Ogg said.
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