U.S. stock market futures fell sharply late Sunday, suggesting further losses when trading begins Monday, following the worst week on Wall Street since 2008.

Dow Jones Industrial Average futures YM00, -0.65% initially fell more than 300 points, but stabilized and were last down around 250 points. S&P 500 futures ES00, -0.87% and Nasdaq Compoosite futures NQ00, -0.86% were down around 1%.

Another painful session for global markets began Monday with a slump in equities and a slide in sovereign bond yields, as investors reacted to a much deeper decline in China’s manufacturing than expected, and the continued spread of the coronavirus.

Japanese stocks opened 1.3% lower, and S&P 500 futures slumped over 1%, with a signal from the Federal Reserve Friday that it’s open to easing policy providing little comfort. Australian and New Zealand 10-year yields set new record lows and Treasury yields slid below 1.1%. Moves did ease somewhat in currencies in early trading and oil pared its losses, while South Korea’s won climbed on strong trade data.

FEDERAL WAY, Wash. — KIRO-TV found out Saturday evening that a Seattle area U.S. Postal Service employee tested positive for the coronavirus.

A corporate communications spokesperson said the employee works at a Seattle Network Distribution Center located in Federal Way, Washington.

The Network Distribution Center is a mail processing plant that distributes USPS marketing mail and package services in piece and bulk form and does not handle letter mail. No mail is delivered from the facility.

The spokesperson said USPS has been consulting with the county health department and was informed that the risk to other employees is low.

Magnitude is VERY important here (this is log scale, as well). China VASTLY dominates total current cases. There are 6K cases outside of China, currently. There are 79K IN CHINA. This chart shows the epidemic outside of China is exploding and no sign of plateau. 3/

This is an easier representation of the prior data. New cases being reported outside of China have just begun to take off. We have VERY variable reporting as well (e.g., Italy has NOT reported recently - when they do, the number will jump, etc.). 4/

Thread/ #Covid19 charts/data to start your day. Good news is that China seems to have MOSTLY contained this. Every bit of data coming from #China indicates that worst is behind them. The bad news is that outside of China is starting to explode, albeit still at lower scale. 1/

(((Howard Forman)))
✔
@thehowie
Daily Death rate is dominated by China. Of the 57 new deaths reported, 47 were in China (9 in Iran). You MIGHT be able to hide new active cases. It is much harder to hide deaths. The trend is favorable (we want to see it continue for a few more days before we applaud). 2/