Live Stock Market Updates During the Coronavirus Pandemic

European markets lower as worries persist over the outbreak.

European stocks opened lower on Tuesday, with London outpacing other markets, as the coronavirus outbreak has continued to spread in the United States and has proved stubbornly persistent elsewhere.

The FTSE 100 stock index was down 0.7 percent at midmorning, after Britain reported worse-than-expected revised economic data for the first three months of this year. Investors were awaiting more details from Boris Johnson, the British prime minister, on his plan to spend on public works and other projects to get the economy back on track.

Other major European markets were modestly lower. The muted opening occurred despite a strong day in the Asia-Pacific region, where markets in Japan, mainland China and Australia ended more than 1 percent higher.

Futures markets were predicting Wall Street would open slightly lower later on Tuesday. In other signs of waning optimism, prices for U.S. Treasury bonds rose, while oil prices were down slightly on futures markets.

Investors awaited developments as states like Florida and Arizona extended their outbreak containment steps and other efforts, signaling that the coronavirus could continue to hold back the United States, home of the world’s largest economy.

They were also watching tense relations between the United States and China, after Beijing imposed a new national security law on the Asian financial capital of Hong Kong without releasing the text or details. American officials on Monday outlined new restrictions on selling technology to Hong Kong, citing Beijing’s growing meddling in the affairs of the semiautonomous territory.

The Federal Reserve chair says the economy has entered an ‘important new phase.’

The Fed’s warning of looming uncertainty was reiterated by another regulator, the Office of the Comptroller of the Currency, which warned in a report on Monday that the pandemic had created so much extra work for banks that they were at risk of falling down on basic requirements like reporting customer activity to credit bureaus and rooting out fraud.

The regulator, which oversees the country’s largest banks, released the report as part of its routine assessments of the industry. It said programs created by Congress to try to prop up the economy, including a $650 billion aid package for small businesses that was structured as a series of forgivable loans, put special stresses on banks just as they were grappling with volatile financial market conditions and widespread lockdowns that forced many of their employees to work from home.

“This could cause breakdowns in controls related to account management, servicing management, flood insurance coverage, credit bureau reporting and complying with applicable laws and regulations,” the report said.

The regulator also warned banks to keep a close eye on loans to homes and businesses that could be in jeopardy because of the economic shutdown caused by the pandemic, and to watch out for fraudsters looking to take advantage of the sudden shift to working from home to find weaknesses in banks’ security systems. — Emily Flitter

Catch up: Here’s what else is happening.

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