{"id":40637,"date":"2020-03-27T21:36:58","date_gmt":"2020-03-28T02:36:58","guid":{"rendered":"http:\/\/prefblog.com\/?p=40637"},"modified":"2020-03-27T21:36:58","modified_gmt":"2020-03-28T02:36:58","slug":"march-27-2020","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=40637","title":{"rendered":"March 27, 2020"},"content":{"rendered":"
\n\"Priscilla<\/a><\/p>\n

\"coronavirus_200327\"<\/a><\/p>\n

\"mushroomcloud_200327_2\"<\/a>\n<\/div>\n

So the markets did not have a nice time today<\/a>:<\/p>\n

Canada\u2019s main stock market resumed its slide after a three-day winning run as investors grew more nervous about the spread of the coronavirus pandemic and the Bank of Canada slashed interest rates to nearly zero.<\/p>\n

The Toronto Stock Exchange\u2019s S&P\/TSX composite index was unofficially down 5.11%, or 683.43 points, at 12,687.74, while shares globally declined in a sign investors were focusing once more on the spread of the virus despite hopes for further stimulus measures to combat its economic impact.<\/p>\n

The heavyweight energy and financial sectors led losses, falling 9.4% and 5.2%, respectively. Industrials were down 4.4%, while materials slid 6 per cent.
…<\/b>
The Dow Jones Industrial Average fell 915.39 points, or 4.06%, to 21,636.78, the S&P 500 lost 88.6 points, or 3.37%, to 2,541.47 and the Nasdaq Composite dropped 295.16 points, or 3.79%, to 7,502.38.<\/p>\n

The pan-European STOXX 600 index lost 3.26%, and MSCI\u2019s gauge of stocks across the globe shed 1.56%. Emerging market stocks lost 0.90%.
…<\/b>
U.S. Treasury yields were headed for a weekly decline, though the range of trading was far less volatile than in the previous two sessions.<\/p>\n

Benchmark 10-year notes last rose 21\/32 in price to yield 0.7424%, from 0.808% late on Thursday. The 30-year bond last rose 1-26\/32 in price to yield 1.3291% from 1.395%.<\/p>\n

Gold market participants remained concerned about a supply squeeze after a sharp divergence between prices in London and New York. The virus has grounded planes used to transport gold and closed precious metal refineries.<\/p>\n

Spot gold dropped 0.8% to $1,615.92 an ounce. The metal was on track to post its largest weekly advance since 2008.<\/p><\/blockquote>\n

David Chang has some grim thoughts on the restaurant business<\/a>:<\/p>\n

More than anything, David, I do not want to incite panic and hysteria, but I think for restaurants and the service industry, there is going to be a morbidly high business death rate. My fear is the restaurants that survive are going to be the big chains, and we\u2019re going to eradicate the very eclectic mix that makes America and going out to eat so vibrant and great. And there is a lot of feeling that even in good times, if chefs can\u2019t make their numbers, they\u2019re going to lose everything, so imagine what they must be feeling now. When the economy is booming, it\u2019s hard for restaurants to get loans from the bank because there\u2019s no assets to back them. I don\u2019t know if it\u2019s going to be feasible for the government to give out a stimulus loan to a restaurant or restaurant groups the way they were able to do in 2008 to the auto companies. So I\u2019m trying to figure out what the best way is. The government should give a greater bailout package to real estate owners so that there can be relief for restaurant owners. It has to move up the chain.<\/p><\/blockquote>\n

S&P slashed Cirque de Soleil’s rating<\/a>:<\/p>\n

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