Wednesday, 8 Apr 2020

Stocks record worst week since financial crisis as coronavirus concerns heat up

BBC Persian Says At Least 210 Dead from Coronavirus in Iran

The coronavirus outbreak has killed at least 210 people in Iran, London-based BBC Persian reported, citing unidentified sources at various hospitals in Iran.

Tehran accounts for most of the deaths, according to the story, which gives no details on the locations of the hospitals.

Bloomberg News couldn’t independently verify the information. The Ministry of Health didn’t immediately reply to a message seeking comment.

Earlier today state television reported that 34 people in Iran died from coronavirus and 388 people tested positive. The Health Ministry said at the time that it expects more cases in coming days.

Earlier this week the government denied a claim by a lawmaker from Qom that 50 people had died from the virus in that city alone.

BBC Persian is a Persian-language news channel and website. It is banned from Iran by the country’s authorities.

US STOCKS SNAPSHOT-Stocks pare losses slightly; Fed chair vows to support economy as appropriate

Feb 28 (Reuters) – The S&P 500 pared losses slightly after the U.S. Federal Reserve Chair Jerome Powell said the economy was solid though coronavirus posed a risk and he vowed that the central bank would “use its tools and act as appropriate to support the economy.” {nW1N2AL00A]

The Dow Jones Industrial Average fell 749.36 points, or 2.91%, to 25,017.28, the S&P 500 lost 71.97 points, or 2.42%, to 2,906.79 and the Nasdaq Composite dropped 149.41 points, or 1.74%, to 8,417.07. (Reporting By Sinéad Carew)

2 people face murder charge in killing outside Halifax: RCMP

Halifax RCMP say a man and woman are facing a first-degree murder charge in the death of a 45-year-old man whose remains were found outside the city.

Police say they found the remains early Thursday near West Jeddore Road in Head of Jeddore.

The Mounties say they later arrested 48-year-old Dana Matthew Wolfe and 38-year-old Kelly Ann Stewart, both from Head of Jeddore, at a home on Faulkner Crescent.

The victim has been identified as Jason Douglas Murphy of Head of Jeddore.

German Unemployment Falls Unexpectedly

German unemployment declined unexpectedly in February, the Federal Employment Agency revealed Friday.

The number of people out of work decreased 10,000 in February, confounding expectations for an increase of 5,000.

The seasonally adjusted jobless rate was unchanged at a near-record low of 5 percent in February, in line with expectations.

Unemployment and underemployment declined in February, benefitting from the mild weather, Federal Employment Agency CEO Detlef Scheele said.

The labor force survey from Destatis today showed that the adjusted unemployment rate remained unchanged at 3.2 percent in January. The unadjusted rate rose to 3.4 percent from 3.2 percent in December.

The number of unemployed persons totaled 1.41 million.

According to provisional results, the number of persons in employment decreased 347,000 or 0.8 percent in January.

Most Devastating Insect Plagues In US History

Hundreds of billions of locusts are currently ravaging several countries in East Africa and South Asia, causing devastating damage to crops both in the field and in storage. Swarms the size of cities are sweeping over farmland, and the numbers are projected to increase 500-fold by June if left unchecked.

Insect plagues have been documented throughout human history, causing famine and widespread hunger. 24/7 Wall St. compiled 20 of the most devastating insect plagues in U.S. history, including not only incidents of ravenous swarms but also the less visible, equally insidious insects that have preyed on woodlands, fruit trees, and even livestock — many of which are classified as invasive species. 

We concentrated on native and invasive insects with reported rapid population growth in the United States. All of these insects have caused the destruction of property, agriculture, or native flora and fauna. In some cases, the population surge slowed and the insects are no longer causing serious destruction. In other cases, the damage is ongoing.

Human actions can be traced to many of these plagues, whether by importing invasive species in fruit shipments, being careless about firewood transport, or causing the climate crisis. Climate crisis is also going to permanently change how these 22 crops are grown.

Click here to see the most devastating insect plagues in U.S. history

Stocks record worst week since financial crisis as coronavirus concerns heat up

U.S. stocks capped the week with another session of painful losses on Friday amid worries around the COVID-19 outbreak’s potential to upend the global economy. Stocks trimmed Friday’s losses by the closing bell with the Nasdaq turning positive. The S&P 500 SPX, -0.82% was down 0.8% to end around 2,955. The Dow Jones Industrial Average DJIA, -1.39% retreated 358 points, or 1.4%, to finish near 25,409, based on preliminary numbers. The Nasdaq Composite COMP, +0.01% was up less than 0.1% at 8,567. But for the week, the S&P 500 was down 11.5%, the Nasdaq fell 10.5%, and the Dow tumbled 12.4%. For the month, the S&P fell 8.4%, Dow fell 10%, and the Nasdaq dropped 6.4%. Federal Reserve Chairman Jerome Powell issued a statement saying the U.S. central bank would act as appropriate and monitor the coronavirus impact, an announcement that raised expectations for monetary easing later this year. The 10-year Treasury note yield TMUBMUSD10Y, -7.38% set a record closing low of 1.127% on Friday.

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