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NEWS
Market Falls Ill Over Virus Concern

Stock market bulls were struck with a string of bad luck as tariff concerns, lackluster earnings, and a fear of a new virus weighed on sentiment. It was a major day for healthcare and crypto, with catalysts impacting several major players. 👀 

Today's issue covers the market’s health scare, healthcare sector news heating up, crypto’s largest hack ever, and more from a busy Friday on Wall Street. 📰

Here’s the S&P 500 heatmap. 2 of 11 sectors closed green, with consumer staples (+1.17%) leading and technology (-2.71%) lagging.

And here are the closing prices: 

STOCKS
Health Scare Hits Stocks 😬 

The stock market was already having a tough time, but its downside accelerated on reports that researchers in a Chinese lab discovered a COVID-like bat virus.

In a story that came straight out of a time machine, researchers at the Wuhan Institute of Virology in China reportedly discovered a new coronavirus in bats that enters cells using the same gateway as the virus that causes COVID-19.

While it hasn’t been detected in humans, the mere idea of another potential pandemic caused vaccine makers like Moderna, Novavax, BioNTech SE, Pfizer, and others to jump.

On top of the health-related risks to the world (and market), Billionaire Steve Cohen voiced concerns that remain headwinds for the stock market like tariffs and DOGE’s cuts being the catalyst for a market correction. ⚠️ 

Weekends present a tricky situation for investors, who are a bit nervous to take risks in their portfolios due to the number of times a new headline risk appears and causes a market meltdown on Monday. Given the strength of selling pressure today and the major indexes closing at their lows, bulls are clearly cautiously going into next week.

As for market bulls, many are betting on Nvidia earnings on Wednesday as the next catalyst to push prices higher. Time will tell if they’re right. 🤷 

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