Global Markets: California declares state of emergency

By MarketsFarm

WINNIPEG, March 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– California has declared a state of emergency over the COVID-19 coronavirus, after the first death in the United States outside of Washington State was reported. The virus continues to spread elsewhere around the world, leading to cancellations and other measures. As one example, Starbucks announced it would no longer allow customers to use reusable mugs temporarily in an effort to help slow the virus spread.

– Turkey’s president Recep Tayyip Erdogan is meeting with Russia’s Vladimir Putin in Moscow on Thursday to discuss a possible ceasefire deal between Syria and Turkey in Syria’s northwestern Idlib province. At least 33 Turkish soldiers were killed in an air-attack by the Russian-backed Syrian army last week. At least one million people have been displaced since December due to the fighting in Idlib, according to the United Nations.

– OPEC, the Organization of Petroleum Exporting Countries, announced a plan Thursday to slash world crude oil production by 1.5 million barrels a day in an effort to support prices.

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