California Warns Investors Virus May Affect its Finances (1)

California, home to the world’s fifth-largest economy, warned investors that the coronavirus and the concurrent global market declines could hit its finances.

“There can be no assurances that the spread of a novel strain of coronavirus called COVID-19 will not materially impact the state and national economies and, accordingly, materially adversely impact the general fund,” California said in documents circulated to investors for its bond sale next week. “While the effects of COVID-19 on the state may be temporary, it appears to be altering the behavior of businesses and people in a manner that may have negative impacts on global ...