Singapore’s prime minister warned on Saturday that the negative economic effects of the coronavirus outbreak will likely be deeper and more prolonged than the 2008 financial crisis. “The economic hit will likely be more serious than the global financial crisis, and longer-lasting too, even beyond the end of the pandemic,” Lee Hsien Loong said in.
China replaced the head of its top agency overseeing Hong Kong, in the latest shakeup after months of anti-government protests in the Asian financial hub. Zhang Xiaoming will be replaced as director of the Hong Kong & Macau Affairs Office by top national political adviser Xia Baolong, China’s State Council said in a statement Thursday..
Virus Breeds Uncertainty U.S. stocks are set to open marginally higher Monday, rebounding after Friday’s losses which bucked an otherwise strong week. But these gains are likely to be limited as China’s coronavirus outbreak continues to claim victims and cause economic damage. A large number of China’s workers traveled back to offices and factories around.
stocks are set to open sharply lower Tuesday, as investors return from a holiday to the shock news from tech giant Apple (NASDAQ: AAPL) that it wouldn’t meet its March quarter sales guidance set just three weeks ago due to the ongoing coronavirus outbreak in China. At 7:00 AM ET (1200 GMT), futures for the S&P.
