US STOCKS-Wall Street set for subdued open as investors weigh coronavirus risks

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Wall Street was set to open largely unchanged on Monday after last week’s strong gains as investors kept an eye on the economic impact from the coronavirus outbreak and company updates, with people starting to return to work in China. The death toll from the epidemic has surpassed that of Severe Acute Respiratory Syndrome (SARS) from 2002-2003 and the World Health Organization said the number of cases outside China could be just “the tip of the iceberg”. “Investors are quiet worried about the overly negative impact of the coronavirus on the global economy,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.

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