Mar. 9, 2020

REUTERS

Wall Street's main indexes dropped 7% and the Dow crashed 2,000 points in what would be its biggest one-day fall ever, as trading resumed following a 22% slump in oil prices.

European shares slumped, with the benchmark STOXX 600 in bear market territory, as fears of a global recession were amplified by a 25% plunge in oil prices and a lockdown in northern Italy.

Oil prices lost about a third of their value in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude.

Italy's prime minister promised "massive shock therapy" to beat the coronavirus and urged Europe to act decisively after markets plunged and his country sealed off.

U.S. Senator Ted Cruz on Sunday said he would self-quarantine after he had contact with a CPAC political conference attendee who tested positive for coronavirus.

Iran released approximately 70,000 prisoners because of the coronavirus outbreak in the country, Iranian judiciary chief Ebrahim Raisi said, according to Mizan, the news site of the judiciary.

Iran has had 237 deaths from coronavirus and 7,161 infections, Health Ministry spokesman Kianush Jahanpur said.

Democratic presidential contender Joe Biden will focus campaign efforts on Michigan, the biggest prize of the six states this week, where a win could give him an insurmountable lead.

For Bernie Sanders to remain competitive with Joe Biden for the Democratic presidential nomination, he will have to repeat what he did four years ago: win the Michigan primary.

Afghan President Ashraf Ghani was sworn in for a second term but his main rival for the top job refused to recognize the inauguration, holding his own swearing-in ceremony as a rival president.

A Dutch judge described as "almost incomprehensible" the 2014 shooting down of a Malaysian airliner over Ukraine that killed all 298 passengers and crew on board, as the trial of three fugitive Russians and a Ukrainian began on Monday near Amsterdam.

Japan is set to revise a law allowing Prime Minister Shinzo Abe to declare a state of emergency over the coronavirus if needed, as he takes heat ahead of the Tokyo Olympic Games.

A Chinese company says it has developed the country's first facial recognition technology that can identify people when they are wearing a mask, as most are these days because of the coronavirus, and help in the fight against the disease.

Apple sold fewer than half a million smartphones in China in February, government data showed on Monday, as the coronavirus outbreak halved demand for all such devices.

AP Top Stories

Trading temporarily halted as plunge triggers 'circuit breaker'.

Two days after threatening to take "momentous" action, North Korea on Monday fired three projectiles off its east coast, South Korea's military said.

An Iranian lawmaker died from the new coronavirus, the first Member of Parliament to succumb to the disease, as the government reported another surge in infections.

A Christian televangelist has been ordered by New York's attorney general to stop promoting a "cure" ["Silver Solution" (colloidal silver)] for the coronavirus to the public.

Ozan Iyibas looks like a politician out to win votes ahead of a municipal election in southern Germany's Bavaria region. But he has unleashed a mini earthquake with his candidacy -- as the first Muslim standing for the Christian Social Union (CSU) in a predominantly Catholic region.

Protesters marking International Women's Day in ultra-conservative Pakistan on Sunday came under attack with stones and sticks, reflecting the movement's challenge in a society where females are still put to death under ancient "honor" codes.

A former close ally of Turkish President Tayyip Erdogan applied on Monday to register a new political party to challenge his ruling AK Party, saying Turkey needed a "fresh start" and calling for reforms to strengthen the rule of law and democracy.

Amid the spread of the coronavirus, gatherings of more than 1,000 people will be banned in France, the fifth most impacted country by COVID-19.

BBC

The day has been dubbed "Black Monday" by analysts who described the market reaction as "utter carnage". Trading in US shares was briefly suspended after sharp falls led to an automatic halt in the selling and buying of stocks. Trading on the top three indexes in the US were halted for 15 minutes. When trading resumed 15 minutes later, shares continued to fall, before appearing to stabilize.

Lebanon is to default on a foreign debt payment for the first time in its history as the country struggles with a major financial crisis.

Pixar's latest animation Onward has been banned by several Middle Eastern countries because of a reference to lesbian parents, according to reports.

Authorities in California are preparing to disembark passengers aboard a virus-hit cruise liner held off San Francisco. Nineteen crew members and two passengers on the Grand Princess have tested positive for Covid-19. The vessel is carrying about 3,500 people from 54 countries.

The electoral council in Venezuela says a fire in its main warehouse near the capital, Caracas, has destroyed most of the voting machines held there.

WND

A ruling from Germany's Federal Constitutional Court has turned back an attempt to enshrine Islamic law in the country's legal system.

A legal group is challenging a Minnesota middle school's decision to fly a gay "pride" flag alongside the U.S. flag while rejecting requests to display other banners.

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