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AFGHANISTAN: Hekmatyar not join the supreme council of state if not having decision making authority

AFGHANISTAN: USAID Officials Brief President Ashraf Ghani on Future Projects

EGYPT: Egypt’s intelligence chief holds talks with Hamas in Gaza Strip

INDIA: UNGA chief 'saddened' by India's reactions to his Kashmir statements

IRAN: Iran Renews Support to Afghan Peace Process, Foreign Minister

IRAN: Iranian navy ship catches fire, sinks in Gulf of Oman

PAKISTAN: Army to Ensure Enduring Peace in Balochistan, Pak Army Chief

PALESTINE: Palestinians rejected statement by US Mission Geneva at UN Human Rights Council Session on the Israeli-Palestinian Situation

US markets witness worst weekly finish since 2008 financial crisis

NEW YORK, 29 February 2020, TON: The American stocks sank around the globe again Friday, 28 February due to the spread of coronavirus outbreak, sending US markets to their worst weekly finish since 2008 financial crisis.

The damage remained: The Dow Jones Industrial Average fell 3,583 points, or 12.4%. Microsoft and Apple, the two most valuable companies in the S&P 500, lost a combined $300 billion. In a sign of the severity of the concern about the possible economic blow, the price of oil sank 16%. Crude oil prices sank 4.9% over worries that global travel and shipping will be severely crimped and hurt demand for energy.

The Federal Reserve released a statement saying it stood ready to help the economy if needed. Investors increasingly expect the Fed to cut rates at its next policy meeting in mid-March. The US is facing worst recession and unless Fed do not shoulder the economy, the economic situation in the US is facing greatest challenge of the times.

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Afshain Afzal

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