U.S. stocks declined on Tuesday, a day after Apple warned that it would miss its sales forecasts because of the disruption in China. Stocks tied to the near-term ups and downs of the economy slumped, with financials, energy and industrial shares the leading losers.
The S&P 500 index fell 0.3 percent. Bond yields declined, with the 10-year Treasury note yielding 1.56 percent, suggesting that investors are lowering their expectations for economic growth and inflation.
With much of the Chinese economy stalled, demand for oil has fallen and prices were down on Tuesday, with a barrel of West Texas Intermediate selling for roughly $52.
In Germany, where the economy depends heavily on global demand for machinery and automobiles, a key indicator showed economic sentiment has tumbled this month, as the economic outlook has weakened.
Reporting and research was contributed by Motoko Rich, Alexandra Stevenson, Choe Sang-Hun, Russell Goldman, Hannah Beech, Richard C. Paddock, Tiffany May and Elaine Yu.
Source Article from https://www.nytimes.com/2020/02/19/world/asia/china-coronavirus.html
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