Coronavirus can wreck the world's economy - Dow drops more than 500 points

[Pastor Guest]

Could the coronavirus crisis sink the cruise industry? - South China Morning Post

There have been more than 650 confirmed cases of the coronavirus among the 2,666 passengers and 1,045 crew, hailing from more than 50 countries, on board the vessel.

https://www.scmp.com/week-asia/healt...ruise-industry

[Pastor Guest]

France has seen a 30% to 40% fall in tourists - CNBC

https://www.cnbc.com/2020/02/23/coro...40percent.html

[KingsX]

China nationalizes US factory that makes face masks !


From FOX news transscript - see video at link below


"Sunday Morning Futures," February 23, 2020.

MARIA BARTIROMO, FOX NEWS ANCHOR

PETER NAVARRO, DIRECTOR, WHITE HOUSE OFFICE OF TRADE AND MANUFACTURING POLICY: Good morning, Maria.

BARTIROMO: What kind of an economic impact are you expecting from this coronavirus?

And I want to ask you about what the U.S. is relying on from China, because I know that there were plenty of ships that were supposed to be carrying medical equipment, medical supplies, parts, components, which now the U.S. is not getting because China is holding onto those things, or they can't even produce them.

NAVARRO: Yes.

Maria, my job at the White House during this crisis is to review the supply chains we need to treat corona. There's over 30 different elements just for that alone.

And what I have learned so far, and not surprisingly, is that we have offshored far too much of our supply chain, not just for corona, but also for the essential medicines we need, same reasons we offshored a lot of our other stuff. It's cheap labor environment, lax environment, and, most of all, unfair trade practices.

A lot of it's in China. Some of it's in India. Some of it's in Europe. But we got to get that back onshore.

In terms of the immediate issue, face masks, the N95 face masks, China put export restrictions on those masks, and then nationalized an American factory that produces them there. "


Video and entire transcript at link

https://www.foxnews.com/transcript/p...of-coronavirus

[KingsX]

At present, DOW futures are DOWN over 400 points !

https://money.cnn.com/data/premarket/


Global Stocks Fall as Coronavirus Continues to Spread

Sun February 23, 2020

" New York (CNN Business) - Stocks are falling around the world as the coronavirus outbreak continues to spread globally."

more at link

https://www.cnn.com/2020/02/23/busin...rus/index.html

[KingsX]

Coronavirus now in South Korea's military...
and may spread to American troops!



"South Korean President Moon Jae-in said the country was at a "watershed moment" Sunday, as he issued the highest level of national alert and ordered new resources to tackling the outbreak, which is largely focused on the southern city of Daegu but has spread throughout the East Asian country, including among the military.

The Ministry of Defense of South Korea confirmed Monday that an additional four soldiers had been confirmed to have contracted the virus, bringing the total of military personnel to 11. There are fears that the outbreak could spread quickly among troops living in close confines, and potentially spread to US forces stationed in Korea."

more at link

https://www.cnn.com/2020/02/23/asia/...hnk/index.html

[Pastor Guest]

Dow futures -650.


European stock markets down more than 3% on average.

[Pastor Guest]

Dow futures -813

[Ben Sunday]

Dow futures down 853

as of 9:20am

[Pastor Guest]

Dow futures down 853

as of 9:20am

France and Germany are down more than 4% with London -3.78.

[Ben Sunday]

9:30am at the open...

down 908