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ednesday brings us 2000000 Coronavirus cases worldwide and more earnings from US companies.

This morning we passed the 2 million number from infected cases worldwide with 128000 deaths. As these numbers continue to grow, the pace at which they are growing is slowing down as signs of stabilization have been showing in most of Europe and New York, the worst hit state in the USA.

Stocks are declining today, as a result of the big rally yesterday, but also as we get more earnings and companies show the impact of the crises true numbers.

Asia was slightly down, with Japan and China declining around -0.5%. South Korea outperformed, raising 1.7%.

Europe is currently trading (8 30 AM ET) and as of now, all markets are in the red. Germany and France are down around 2% while Britain and Italy are down 2.5%.

US futures are down trading closely with the European markets. Before Europe opened, the futures were slightly negative, but as European stocks fell after the open, they brought US futures down as well. At this time all major indexes are down around 2%.

Retail sales fell by 8.7% in the month of March and the Empire State Manufacturing Index was -78.2. Both of these numbers are record setting, the biggest declines ever.

From the earnings calendar, the biggest names so far today were Bank of America, Goldman Sachs, Citi and UnitedHealth. The banks showed lower than expected earnings except for Citi which beats its estimates slightly, but all of them put aside billions of dollars for anticipated bad loans. Their guidance also is highly dependent on how long the crises goes on, but even in best case scenario they see a rough road ahead. All of their stocks are down in the pre-market around 3%.

UnitedHealth beat expectations posting better earnings and profits. They also are in line with previous guidance for the year which is not something we will hear from a lot of companies this year. Their stock is up 1.8% in the pre-market.