outbreak pandemic economy

Pandemic in its early days; company earnings tell the story

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The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Monday related to national and global response, the work place and the spread of the virus.

________________________ EARNINGS SEASON: The damage from the pandemic is playing out in quarter earnings reports, which have begun to capture the earliest days of the outbreak.

Quarterly growth has plunged 13% for S&P 500 companies that have reported, according to S&P Global. Most companies have withdrawn all financial guidance for the year given the unprecedented disruption to the economy. — Under Armour's sales fell 23% in the first quarter, with 15% of that decline related to the impact of the virus outbreak.

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