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What to watch for today and over the weekend
Will the coronavirus epidemic show up in US job numbers? While projections have February’s employment report showing 175,000 new jobs added to the US economy, labor economists are sounding the alarm that this could be the last healthy jobs report for a while due to a business slowdown caused by the coronavirus crisis.
South Korea clamps down on the country’s face mask supply. The government is no longer allowing the export of face masks and is enacting a domestic rationing policy to evenly allocate supplies. Starting this weekend, authorities will distribute two masks per person using an unusual system based on a person’s year of birth.
The world marks International Women’s Day. People will gather across the globe on Sunday to march for women’s rights. This year’s theme of #EachforEqual is based on global gender equality and the concept of “collective individualism.” Activists in Pakistan have just received permission for their version of the women’s march with a warning not to violate “moral values.”
While you were sleeping
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US stocks plunged once again. The Dow, S&P 500, and Nasdaq all gave up most of Wednesday’s gains as Wall Street remains volatile in the face of a coronavirus-induced economic slowdown. The US Senate responded to the crisis by passing an $8.3 billion relief package with a near-unanimous vote. Meanwhile, in Silicon Valley, a top venture capital firm said the good times are over.
US senator Elizabeth Warren dropped out of the 2020 presidential race. After a disappointing set of party primaries, Warren suspended her campaign for the Democratic nomination. She has not yet endorsed either of the remaining candidates, senator Bernie Sanders and former vice president Joe Biden.
Foxconn caught the coronavirus bug. The Taiwanese electronics manufacturing giant reported an 18% decline in revenue last month, its biggest year-over-year decline since 2013. Foxconn, which is Apple’s main iPhone manufacturer, said that it expects to be at full capacity by the end of March.
OPEC backed its big cuts since 2008. The group of oil-producing states agreed to cut output by 1.5 million barrels per day to halt the slide of prices which have already fallen by around 20% this year. The deal is still waiting on approval from the broader OPEC+ group including Russia and Kazakhstan.
NASA’s new Mars rover was assigned a name. The winning name, Perseverance, was entered in a nationwide contest by a 13-year-old student. The rover is launching this July with a scheduled arrival on the red planet in early 2021.
Quartz membership
Are coding bootcamps worth it? Programs wow potential students with rags-to-riches success stories, but some critics call them a scam. Quartz’s Michael J. Coren breaks down what you need to know before deciding to sign up or write bootcamps off.
Quartz daily obsession
The slow wear-and-tear of toxic stress. When a child faces constant and unrelenting stress, from neglect, or abuse, or living in chaos, it may derail normal development. Figuring out how to address stressors before that happens is one of the biggest questions in the field of childhood development today. Take a breath, then read the Quartz Daily Obsession.
Matters of debate
Give in to the mouse. An escape from the drumbeat of negative news headlines can make even the most anti-Disney family fall in love with the Magic Kingdom.
Pasta is never really just about pasta. A coronavirus-caused run on Italian grocery stores has boiled over into a debate over noodles, sauce, culture… life.
The world is sexist. A United Nations study finds that nearly 90% of all people—that is, both men and women—are prejudiced against women.
Surprising discoveries
Mexico illegally destroyed a protected forest. State-owned oil company Pemex defied a government order by cutting down mangrove trees to build an $8 billion oil refinery
A Hermès bag can be a better investment than art. One-year investment returns on the coveted Birkin bags beat out other alternative investments by a large margin.
WhatsApp is so popular in Africa that even fake versions do well. Better, in some cases, than Facebook’s own products.
Major League Baseball has progressive cannabis policies. It’s common sense, as CBD-based pain relief products may be far safer than opioids.
A sacred statue was hit by a truck. The mayor of Easter Island in the Pacific Ocean is introducing new vehicle restrictions after a truck damaged an iconic stone sculpture.
Our best wishes for a productive day. Please send any news, comments, a Hermès bag, and smooth pasta to hi@qz.com. Get the most out of Quartz by downloading our app on iOS or Android and becoming a member. Today’s Daily Brief was brought to you by Max Lockie and Patrick deHahn.