The Coronavirus has reached our shores and appears to be spreading across multiple states leading to several large companies, including Apple (APPL), Twitter (TWTR) and Palantir, asking their corporate employees or employees at West Coast offices to work from home. We are also seeing universities like Stanford and University of Washington shift classes online and there have been at least a couple of K-12 school closures in Northern California.
The markets shrugged off a 50 basis point drop in interest rates and the S&P 500 almost ended flat for the week,