(Bloomberg) — China’s factory activity fell to a record low after weeks of closures caused by the coronavirus, while the number of cases in South Korea soared.
Infections in California and Oregon indicated the virus is already in the community on the U.S. West Coast. The U.S. raised its travel advisory for outbreak-hit Italy. Federal Reserve Chairman Jerome Powell said the central bank is prepared to cut interest rates.
After U.S. equities suffered their worst week since the financial crisis, President Donald Trump said his administration is prepared for “the worst.” Acting White House Chief of Staff Mick Mulvaney said …