March 04 (Wednesday)

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

Markets
Dow plunges more than 700 points despite the Fed cutting rates C
10-year Treasury yield falls below 1% for the first time after Fed slashes rates due to coronavirus C

Central banks
Federal Reserve Cuts Rates by Half Point W
The Fed has no tools for an outbreak, but it acted anyway. Here’s why. N
Even after a half-point rate cut, the market is expecting the Fed to do a lot more C
Trump demands ‘more easing and cutting’ after Fed slashes rates amid coronavirus outbreak C
Fed virus-driven cut may test new approach to inflation[: opportunistic reflation]  R
What Market Didn’t Like About Powell: Scant Tools, Short Answers B
Exclusive: G7 to make no direct calls for fiscal, monetary support in coronavirus statement: sources R

Virus I
WHO says coronavirus death rate is 3.4% globally [of reported cases], higher than previously thought C
New York officials confirm second case of coronavirus in state, identify case as community spread[, linked schools closed] C
A second case in New York may force a hospital to quarantine its staff. N
US coronavirus deaths climb to 9 as Washington state confirms new fatalities C
Virus Study Finds Most Risk Among Family, Less for Others B
Coronavirus Misinformation Lives Online, Despite Efforts to Stamp It Out W

Virus II
World Bank announces up to $12 billion in immediate funds for coronavirus R
More U.S. Coronavirus Travel Restrictions Coming, TSA Chief Says B
Ford Bans Business Trips, Discloses Two Employee Virus Cases B
JPMorgan Tests U.S. Virus Plan With Thousands Working From Home B
Coronavirus Poses Dilemma for Workers Who Risk Losing Pay W
U.S. Weighs Paying Hospitals for Treating Uninsured Virus Patients W

US politics
Sanders Seeks to Ward Off a Newly Resurgent Biden W
Scared of Sanders presidency, Wall Street Dems double down on moderates R
Google Pulls Down Political Ads as Candidates Keep Pushing Limits B

Industries & companies
FAANGs: Facebook Weighs Libra Revamp to Win Over Reluctant Regulators B
Pharma: Insulin Giant Aims to Unlock Elusive Obesity-Drug Market W
Retail: Retailers Confront Coronavirus Uncertainty W

Corporate finance
Thermo Fisher to Buy Diagnostic Company for $10.1 Billion W