SQUAWK BOX, THURSDAY 30TH JANUARY, 2020

Assessing the cost…. Asian stock markets slump to a seven-week low as the coronavirus death toll rises to 170 and foreigners flee China. Economists sound the alarm over how the outbreak could impact China’s economy, with some saying GDP growth could slow to 5 per cent as a result. Facebook shares suffer, despite a Q4 earnings beat, as investors show concern over the social media giant’s soaring costs and narrowing margins. In Germany, Deutsche Bank reveals a worse-than-expected €5.3bn net loss for 2019 as the cost of the bank’s restructuring hits the bottom line. We hear from the CFO James Von Moltke. And in the U.S., the Federal Reserve says it is ‘appropriate’ to hold rates steady, but chairman Jerome Powell voices fears over the coronavirus’s effect on the Chinese economy in the medium term.