Fears remain… Wall Street closes in the red on global coronavirus concerns but Chinese shares are higher as Beijing insists that its key manufacturing provinces are rapidly coming back online. Federal Reserve vice-chairman Richard Clarida claims the U.S. economy looks to be in good enough shape to ride out the outbreak but says the central bank is continuing to monitor the situation. EU leaders have been locked in overnight negotiations over the bloc’s next budget. Commission president Ursula Von Der Leyen tells this channel that modern climate and digital policies must feature in the agreement. And Unicredit’s CEO Jean-Pierre Mustier is reportedly set to take over from Noel Quinn at the head of HSBC amid a huge personnel overhaul at Europe’s largest bank. We also have earnings from Valeo, Allianz and Pearson.

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