As global companies face a new week of closures due to the coronavirus pandemic, the focus will shift to corporate earnings once this quarter ends on Wednesday. Many companies, including Twitter (TWTR) and Target (TGT) have already pulled their forecasts due to business uncertainty, and predictions for a massive drop in earnings are everywhere.

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U.S. manufacturing PMI fell to 48.5 in March, down from 50.7 in February, according to IHS Markit’s survey. A reading below 50 indicates a contraction in activity, and last month’s is the lowest reading since the financial crisis. Output, new orders, production and employment declined at the fastest pace since 2009 as the number of coronavirus

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