Senin, 24 Februari 2020

U.S. Stocks Plunge as Coronavirus Crisis Spreads - The New York Times

Stocks on Wall Street plummeted on Monday, following sharp declines in global markets after spreading coronavirus outbreaks in Italy and in South Korea stoked concern among investors about the potential damage they might inflict on the global economy.

The S&P 500 dropped nearly 3 percent at the start of trading, after European markets recorded their worst day since 2016 and major benchmarks in Asia closed sharply lower. The Dow Jones industrial average fell more than 900 points.

The number of people infected with the virus has ballooned to more than 79,000 people in Asia, crippling China’s economy. Rapidly spreading outbreaks have now been reported in Italy, Iran and South Korea.

The Coronavirus Outbreak

  • What do you need to know? Start here.

    Updated Feb. 10, 2020

    • What is a Coronavirus?
      It is a novel virus named for the crown-like spikes that protrude from its surface. The coronavirus can infect both animals and people, and can cause a range of respiratory illnesses from the common cold to more dangerous conditions like Severe Acute Respiratory Syndrome, or SARS.
    • How contagious is the virus?
      According to preliminary research, it seems moderately infectious, similar to SARS, and is possibly transmitted through the air. Scientists have estimated that each infected person could spread it to somewhere between 1.5 and 3.5 people without effective containment measures.
    • How worried should I be?
      While the virus is a serious public health concern, the risk to most people outside China remains very low, and seasonal flu is a more immediate threat.
    • Who is working to contain the virus?
      World Health Organization officials have praised China’s aggressive response to the virus by closing transportation, schools and markets. This week, a team of experts from the W.H.O. arrived in Beijing to offer assistance.
    • What if I’m traveling?
      The United States and Australia are temporarily denying entry to noncitizens who recently traveled to China and several airlines have canceled flights.
    • How do I keep myself and others safe?
      Washing your hands frequently is the most important thing you can do, along with staying at home when you’re sick.

Investors have been on edge since the start of the crisis, because of the role that China’s factories play in global business and because it is a huge consumer market itself. But fresh reports that the virus is not contained are “signaling alarm bells,” a market analyst at Citigroup wrote Monday.

Airline and technology stocks were particularly hard hit. Delta Air Lines and American Airlines were each more than 4.5 percent lower, while shares of Apple — which said last week that the outbreak in China was hurting both its supply of iPhones and demand for it — fell more than 5 percent in early trading.

Oil prices slid as demand for crude waned because of concerns about a widening economic slowdown. Brent crude, the international benchmark, fell nearly 4 percent to about $56.40 a barrel on Monday, as did West Texas intermediate, the main U.S. benchmark, which dropped to about $51.50 a barrel. The lower prices will increase pressure on OPEC and Russia to reduce oil supplies at their next meeting, which is scheduled for early March in Vienna.

Gold, which is viewed as a safe place to invest during market tumult, rose to a seven-year high.

In Europe, major benchmarks were down 3 percent or more. The South Korean market ended 3.9 percent lower, after a surge in coronavirus cases prompted President Moon Jae-in on Sunday to put the country on its highest level of alert. Other Asian markets slid, but not by as much.

An analyst note from JPMorgan warned “the immediate impact of a large China demand and supply shock will be substantial.” The analysts predicted that global G.D.P. would slow to about 1 percent this quarter, but said they expected a strong recovery midyear.

In a commodities report, Citi Research analysts said that the virus’s ripple effect on the global supply chain may be more problematic than expected.

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2020-02-24 14:32:00Z
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Trump speaks at massive rally during India visit: 'America loves India' - Fox News

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  1. Trump speaks at massive rally during India visit: 'America loves India'  Fox News
  2. Trump praises Pakistan while announcing $3B India arms deal  NBC News
  3. Trump sings Modi's praises at massive rally in India  Guardian News
  4. Trump, Melania visit famed Taj Mahal after joining Modi for massive India rally  Fox News
  5. 'I have never seen him eat a vegetable:' Trump braces for a beef-free menu in India  CNN
  6. View Full Coverage on Google News

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2020-02-24 14:46:01Z
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Trump’s first day in India: A massive rally with Modi and a tour of the ‘truly incredible’ Taj Mahal - The Washington Post

Trump’s brief visit will be long on pageantry and symbolism but relatively short on substance. Trump’s trip to India comes as the two countries face stubborn tensions over trade even as they continue to deepen their security cooperation. At the rally, Trump touted a $3 billion defense deal with India.

Arriving at the airport in the western city of Ahmedabad, Trump was greeted by Modi, whom he has described as a good friend. The two leaders appeared together at a rally in Houston last year.

On Monday, the two leaders traveled from the airport to an ashram on the banks of the Sabarmati River where Mohandas Gandhi, India’s revered independence leader, lived for 13 years. The roads were lined with people, perhaps in the tens of thousands (previously Trump had boasted at a rally in Colorado that 10 million people would greet him upon his arrival).

The Trumps toured Gandhi’s modest home, removing their shoes before entering as all visitors do. Trump also sat on the floor and tried spinning cotton on a charkha, a hand-cranked wheel that Gandhi promoted as a tool of self-reliance.

The next stop was Motera Stadium, a brand-new venue that India describes as the largest cricket stadium in the world with a seating capacity 110,000. The stadium was nearly full and attendees waited hours in the blazing sun for Trump and Modi to arrive.

Trump and Modi lavished praise on each other during the joint rally. Modi welcomed Trump to the world’s biggest democracy while Trump spoke of the close ties between the two countries. Trump called Modi an “exceptional leader” who works “night and day for his country.”

“America loves India, America respects India, and America will always be faithful and loyal friends to the Indian people,” Trump continued. By the time the rally concluded, more than half the attendees had left, weary of the long hours in blazing sunlight at temperatures up to 88 degrees.

Trump, who is traveling with his wife as well has his daughter Ivanka and her husband Jared Kushner, flew from Ahmedabad to Agra to visit the Taj Mahal. Upon landing, he was greeted by Yogi Adityanath, a radical Hindu monk known for his anti-Muslim rhetoric who is chief minister of India’s largest state, Uttar Pradesh.

Trump’s trip continues Tuesday with ceremonies, meetings and a banquet in New Delhi, where landed Monday evening.

Read more about how Trump’s first day in India unfolded below.

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2020-02-24 14:18:00Z
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Live updates: After massive rally with Modi in India, Trump visits Taj Mahal - The Washington Post

AHMEDABAD — Inside the world’s largest cricket stadium, tens of thousands of people in white “Namaste Trump” hats bearing the Indian and American flags have gathered to welcome President Trump.

Popular singers entertained the crowd, which cheered and danced under the midday sun as they awaited the arrival of Trump and Indian Prime Minister Narendra Modi.

Some of those in attendance seemed more enthusiastic about the prospect of seeing Modi than his American visitor.

Abhishek Parihar, 18, a university student, heard about the event at a tutoring class and jumped at the chance to see the prime minister.

“I am very excited to see Modi,” he said. And Trump? “Yes, him also,” said Parihar. Trump is a “very nice person and he was a successful businessman. And he is the best friend of Modi.”

Shivang Chaurashia, 31, works in private equity in New York but happened to be making a trip to see his family in Ahmedabad. “I am a big fan of both of them,” he said of the two leaders. His father, Dikshit, 58, stood next to him, nodding. “This one we have to attend. It’s a big deal.”

Vinod Patel, 51, arrived with his son and niece. Patel runs a decoration business and helped adorn Trump’s route through Ahmedabad, creating 11 tableaus from the life of Mohandas Gandhi and a giant gate over the road celebrating the visit.

He completed the job in 10 days. “When work is given by Modi, there is no tiredness,” Patel said.

Others said they had come for the sheer spectacle of the event. “Just to see it,” said Ashutosh Gupta, 50, who works at a government telecom firm. He demurred when asked what he thought of Trump. “He is the president of the United States — that’s sufficient.”

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2020-02-24 13:27:00Z
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Live updates: After massive rally with Modi in India, Trump visits Taj Mahal - The Washington Post

AHMEDABAD — Inside the world’s largest cricket stadium, tens of thousands of people in white “Namaste Trump” hats bearing the Indian and American flags have gathered to welcome President Trump.

Popular singers entertained the crowd, which cheered and danced under the midday sun as they awaited the arrival of Trump and Indian Prime Minister Narendra Modi.

Some of those in attendance seemed more enthusiastic about the prospect of seeing Modi than his American visitor.

Abhishek Parihar, 18, a university student, heard about the event at a tutoring class and jumped at the chance to see the prime minister.

“I am very excited to see Modi,” he said. And Trump? “Yes, him also,” said Parihar. Trump is a “very nice person and he was a successful businessman. And he is the best friend of Modi.”

Shivang Chaurashia, 31, works in private equity in New York but happened to be making a trip to see his family in Ahmedabad. “I am a big fan of both of them,” he said of the two leaders. His father, Dikshit, 58, stood next to him, nodding. “This one we have to attend. It’s a big deal.”

Vinod Patel, 51, arrived with his son and niece. Patel runs a decoration business and helped adorn Trump’s route through Ahmedabad, creating 11 tableaus from the life of Mohandas Gandhi and a giant gate over the road celebrating the visit.

He completed the job in 10 days. “When work is given by Modi, there is no tiredness,” Patel said.

Others said they had come for the sheer spectacle of the event. “Just to see it,” said Ashutosh Gupta, 50, who works at a government telecom firm. He demurred when asked what he thought of Trump. “He is the president of the United States — that’s sufficient.”

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2020-02-24 12:47:00Z
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Live updates: After massive rally with Modi in India, Trump visits Taj Mahal - The Washington Post

AHMEDABAD — Inside the world’s largest cricket stadium, tens of thousands of people in white “Namaste Trump” hats bearing the Indian and American flags have gathered to welcome President Trump.

Popular singers entertained the crowd, which cheered and danced under the midday sun as they awaited the arrival of Trump and Indian Prime Minister Narendra Modi.

Some of those in attendance seemed more enthusiastic about the prospect of seeing Modi than his American visitor.

Abhishek Parihar, 18, a university student, heard about the event at a tutoring class and jumped at the chance to see the prime minister.

“I am very excited to see Modi,” he said. And Trump? “Yes, him also,” said Parihar. Trump is a “very nice person and he was a successful businessman. And he is the best friend of Modi.”

Shivang Chaurashia, 31, works in private equity in New York but happened to be making a trip to see his family in Ahmedabad. “I am a big fan of both of them,” he said of the two leaders. His father, Dikshit, 58, stood next to him, nodding. “This one we have to attend. It’s a big deal.”

Vinod Patel, 51, arrived with his son and niece. Patel runs a decoration business and helped adorn Trump’s route through Ahmedabad, creating 11 tableaus from the life of Mohandas Gandhi and a giant gate over the road celebrating the visit.

He completed the job in 10 days. “When work is given by Modi, there is no tiredness,” Patel said.

Others said they had come for the sheer spectacle of the event. “Just to see it,” said Ashutosh Gupta, 50, who works at a government telecom firm. He demurred when asked what he thought of Trump. “He is the president of the United States — that’s sufficient.”

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2020-02-24 12:21:00Z
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Live updates: Trump, Modi address massive rally at Indian stadium - The Washington Post

AHMEDABAD — Inside the world’s largest cricket stadium, tens of thousands of people in white “Namaste Trump” hats bearing the Indian and American flags have gathered to welcome President Trump.

Popular singers entertained the crowd, which cheered and danced under the midday sun as they awaited the arrival of Trump and Indian Prime Minister Narendra Modi.

Some of those in attendance seemed more enthusiastic about the prospect of seeing Modi than his American visitor.

Abhishek Parihar, 18, a university student, heard about the event at a tutoring class and jumped at the chance to see the Indian prime minister.

“I am very excited to see Modi,” he said. And Trump? “Yes, him also,” said Parihar. Trump is a “very nice person and he was a successful businessman. And he is the best friend of Modi.”

Shivang Chaurashia, 31, works in private equity in New York but happened to be making a trip to see his family in Ahmedabad. “I am a big fan of both of them,” he said of the two leaders. His father Dikshit, 58, stood next to him, nodding. “This one we have to attend. It’s a big deal.”

Vinod Patel, 51, arrived with his son and niece. Patel runs a decoration business and helped adorn Trump’s route through Ahmedabad, creating 11 tableaus from the life of Mohandas Gandhi and a giant gate over the road celebrating the visit.

He completed the job in 10 days. “When work is given by Modi, there is no tiredness,” said Patel.

Others said they had come for the sheer spectacle of the event. “Just to see it,” said Ashutosh Gupta, 50, who works at a government telecom firm. He demurred when asked what he thought of Trump. “He is the president of the United States — that’s sufficient.”

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2020-02-24 10:01:00Z
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