10 things you need to know before the opening bell

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10 Things Before the Opening Bell

Here's what you need to know before the markets open.

1. 'There's nothing really to be relieved about': Stocks tumble as coronavirus fears outweigh stimulus hopes. Promises of support from central bankers failed to outweigh worries of a pandemic hitting global growth.

2. Stocks will plunge, Trump will lose the election, and coronavirus could 'shock' the world, 'Dr Doom' economist predicts. Escalating US-Iran tensions will "drive up oil prices and lead inevitably to Trump's defeat in the elections," Nouriel Roubini said.

3. Apple CEO Tim Cook said the Trump administration directly intervened to help the iPhone maker break into India. "The administration worked on this with the Indian government," Cook said.

4. The coronavirus outbreak is the 'biggest danger' for the global economy since the financial crisis and could halve growth in 2020, OECD warns. The group predicts growth will fall as low as 1.5% this year — half of the 3% projection it made in November.

5. Brexit will cost the UK up to 30 times more than it will gain back from striking a Trump trade deal. The UK government estimated a deal could increase the size of the UK economy by up to 0.16% over fifteen years, after predicting in a previous analysis that leaving the EU would shrink the economy by up to 6.7% over the same period.

6. Asian factories take a beating from virus outbreak. Surveys of factory activity indicated a sharp contraction in February.

7. Coronavirus is expected to hurt US earnings harder and longer. Wall Street strategists have been slashing forecasts, putting 2020 profit growth in jeopardy.

8. Stocks reversed early gains. In Europe, Germany's DAX fell 0.9%, Britain's FTSE 100 rose 0.2%, and the Euro Stoxx 50 fell 0.8%. Asian shares closed higher with China's Shanghai Composite up 3.2%, Hong Kong's Hang Seng up 0.6%, and Japan's Nikkei up 1%. US stocks are set to open lower with futures underlying the Dow Jones Industrial Average and Nasdaq down about 0.1%, and S&P 500 futures down 0.4%.

9. There's a raft of earnings out. Tilray and LG are among the highlights.

10. Some key data is on the docket. Purchasing Managers Index (PMI) figures for the US will be closely watched.