, whose falling share price has been giving parent company National Amusements some angst, shed 3.5%. Ratings agency S&P Global put NAI on negative credit watch yesterday because it uses ViacomCBS stock as loan collateral.The nightmarish march of cancellations across the industry continued from NAB to live NewFront presentations by Twitter and YouTube to production of the latest season ofTwitter was down a hefty 8.8%. Google parent Alphabet was down 5%. Facebook fell 4.
The World Health Organization can take at least partial credit. Around midday it officially designated the coronavirus outbreak a pandemic, present in over 100 countries with 100,000 infected. The Bank of England followed the Fed with a major interest rate cut saying, “Indicators of financial market uncertainty have reached extreme levels.”
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