February 26 (Wednesday)

YRI Express
Morning Briefing PDF I Audio Excerpts
Daily Markets Overview
(also see new Chart of the Day below)

Markets
Dow futures bounce as Wall Street attempts comeback from monster 2-day slide C
Coronavirus wipes out $1.7 trillion in US stock market value in two days C
Trump’s Plea for U.S. to Shrug Off Virus Fear Ignored by Markets B
Once bulletproof, tech stocks now among market’s biggest losers R
Yield on 10-Year U.S. Treasury Note Hits Record Low W

Central banks
Fed’s Wait-and-See Posture Tested by Virus W
Fed’s Kaplan says unclear right now if coronavirus calls for U.S. rate change: WSJ R

Virus
CDC official warns Americans it’s not a question of if coronavirus will spread, but when NN
U.S. braces for coronavirus spread as outbreaks worsen in Italy, Iran R
New Cases Drop in China as Virus Spreads Globally W
Moderna’s stock rises as it ships the first batch of its COVID-19 vaccine candidate MW
Investors Grapple With Coronavirus Impact on Largest U.S. Firms W

Geopolitics & trade
The Taj Mahal, Folk Dancers, ‘Hey Jude’: Trump’s 36 Hours in India W

Industries & companies
Autos: Tesla’s valuation needs to be more ‘grounded’ to profit, analyst says MW
FAANG: Amazon Opens Cashierless Supermarket in Latest Push to Sell Food W
Homebuilders: Toll Brothers Falls After Homebuilder Reports Sales Miss (Due to Lack of Affordable Homes) B
Media: Disney’s choice of parks boss as new CEO confuses the company’s Wall Street narrative C
Pharma: Mallinckrodt Nets Government Support for $1.6 Billion Opioid Deal W
Tech: Salesforce Co-CEO Keith Block steps down; Marc Benioff will be sole CEO C

Offbeat
Plague of locusts threatens East African economies as UN sounds alarm C