The last two decades have ushered in significant change and transformation. I believe the 2020s will be dispositive in redefining the pillars of our economy, and COVID-19 magnifies this greatly. As of this writing there are 3,611,394 confirmed cases, and the U.S. accounts for 33% of those. We are now dealing with a 4.8% Q1 GDP contraction and expectations for …

I believe the technical term for what we have been experiencing in the financial markets is: Aargh! (‘Bloodsuckingly bad’ also works.) I’m not sure how much it helps, but I’ve been through something like this before, during the market meltdown of 2008, when the S& P 500 fell more than 38 percent in just that year. But most millennials, the …

Workers wearing protective suits at Shanghai Pudong International Airport Photograph: China News Service/China News Service via Getty Images The Foreign Office (FCO) is advising UK nationals against all but essential international travel. Border closures and other travel restrictions are increasing globally. The FCO advice took effect on 17 March, for an initial period of 30 days. This article is being updated daily. …

Main Street may be more resilient than Wall Street during the coronavirus crisis. Former Office of Management and Budget director David Stockman warns the pandemic is exposing risky speculation and shaky market fundamentals. “Wall Street is toast,” he told CNBC’s “Trading Nation” on Thursday. “It’s going to end as a financial crisis because the illusion that central banks always have …

Media giant Thomson Reuters has canceled non-essential business travel for its employees to mainland China, Hong Kong and South Korea over mounting fears of the deadly coronavirus outbreak, a spokesperson confirmed to CNBC. “Thomson Reuters has halted all non-essential travel to China, Hong Kong and South Korea. All other travel remains under constant review,” the spokesperson said. The parent of …

The coronavirus is now spreading well beyond China. Travellers returning from nine Asian countries and destinations are being advised by Public Health England to avoid contact with other people if they show certain symptoms. In addition to China, the Public Heath England list includes Thailand, Taiwan, Japan, Hong Kong, Macau, Malaysia, Singapore and South Korea. Holiday companies and airlines are …

Americans shouldn’t travel to China because of the risks from the new coronavirus, the US State Department said. US citizens currently in China should “consider departing using commercial means,” the alert said. Secretary of State Mike Pompeo echoed the warning on Twitter. A Level 4 travel advisory is the most severe warning issued by the State Department, and it applies only to areas …

The Centers for Disease Control and Prevention on Thursday escalated its health warning to a level 3 as the coronavirus continues to spread, recommending that people avoid all nonessential travel to Wuhan, China. The State Department reiterated its level 2 travel advisory, which urges people to exercise caution if traveling to an affected area. An initial State Department website post …