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Shares of Apple are flat in premarket trading after the tech giant dipped into correction territory on Tuesday. Shares have slid 10.98% in the last week as the rising number of coronavirus cases outside of China has spooked investors. In the last four trading sessions Apple has erased $140 billion in market value. Earlier in February the company said it does not expect to meet its prior revenue guidance due to the impact from the coronavirus. â Stevens
Futures on the Dow Jones Industrial Average now rose 100 points, indicating a near 150-point higher open. Stock attempt to come back from its worst two-day rout since 2015. The S&P 500 posted its first back-to-back losses of more than 3% in more than four years, while the Dow has tumbled 1,900 this week on coronavirus fears.Â â Li
President Donald Trump tweeted on Wednesday he will hold a news conference Wednesday at 6 p.m. to address concerns over the coronavirus outbreak. His tweets came after The Washington Post reported Trump was furious that the stock market was being battered by worries over the coronavirus. âImbert
Bank stocks are trading slightly higher as Treasury yields climb from the low levels seen in the previous session. Bank of America and JPMorgan Chase are up 0.2% and 0.4%, respectively, in the premarket. Citigroup and Morgan Stanley are gaining 0.3%. The 10-year Treasury yield is trading at 1.364% after falling to a record low on Tuesday. Lower yields put pressure on banks’ profit margins. âImbert