Markets could face another volatile week ahead, as concerns over the deadly coronavirus weigh on sentiment around the world. There are more than 87,600 confirmed cases worldwide and just under 3,000 confirmed deaths, as of Sunday morning. The rapid spread and lack of containment in countries outside of China rocked global markets and all three of the major indices fell into a correction in a matter of six days.Economic data this week will play a critical role in helping the Federal Reserve assess the damage of the coronavirus on the U.S. economy. Calls for a rate cut on Wall Street have spiked in recent days due to the contagion. According to the CME FedWatch tool, the Fed fund futures indicated that investors are almost 95% sure that the Fed will slash interest rates by 50 basis points at its March policy meeting. Just one week ago, the odds were at 0%.Friday afternoon, Fed Chair Jay Powell said in a statement, “The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” Read more >>slotxo