Your Weekend Reading: Crisis Mode
Fear is stalking the markets, and they’ve now entered crisis mode. The new coronavirus reached London’s Heathrow Airport while a Gap store in New York City closed due to an employee infection. According to one world-beating money manager, it really is time to start worrying. While a robust jobs report Friday could suggest the U.S. economy is healthy enough to withstand the epidemic, the worst may be yet to come. There was a surprise winner this week, however: Chinese stocks.
What you’ll want to read this weekend
Globalization is undergoing a tough stress test from the virus. As for the key to finding a treatment, that may lie in a secret lab in North Carolina.
New tools are available to the public to help track down social media bots as U.S. officials warn Russia is taking aim at America again. But if you’re working from home, the internet might not be able to cope.
Russia and Turkey are feuding over the last battle in Syria, and there’s big money at stake. But Bobby Ghosh writes in Bloomberg Opinion that the ceasefire won’t hold, and that’s bad news for Europe. The United Nations has formally accused Russia of war crimes, alleging the intentional bombing of civilians in a war that has killed 400,000 civilians.
Fast cars, expensive cigars and cocaine. A look at the crazed life of a now-dead day trader who trafficked in information.
What you’ll need to know next week
- A resurgent Joe Biden faces Bernie Sanders in six state primaries.
- The ECB sets interest rates; the strong euro is suddenly a problem.
- The U.K. budget will seek to address the nation’s woeful productivity.
- OPEC releases demand report after failed meeting with Russia.
- International Women’s Day is coming. We could learn from Vermont.
What you’ll want to see in Bloomberg Graphics
How the coronavirus could cost the world $2.7 trillion. The pathogen could bring the world economy to a standstill. In China, business has practically ground to a halt. The economic fallout may include recessions in the U.S., the euro-area and Japan—in total, the lost output is equivalent to the entire GDP of the U.K.
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