US stocks drop on Monday on coronavirus fears, European banks, Alibaba’s push into grocery delivery

Summary: US stocks on Monday notched their biggest one-day drop in a month on fears that rising coronavirus infections will dampen business activity, and European banks get a lift from equities revenue. Plus, the FT’s China corporate tech reporter, Ryan McMorrow, explains how Alibaba is making a push into a crowded grocery delivery field.  Alibaba to pay $3.6bn to take control of Chinese supermarket chain Sun Art https://www.ft.com/content/fb6dee7d-704e-444e-aa7f-32969296fb51 US stocks have worst day in a month as virus cases hit a record https://www.ft.com/content/770938ee-c511-4332-968c-c290dd89cc33 Barclays recovers as bad debt charges fall https://www.ft.com/content/8374dd0e-87c1-4b58-8c29-5cc4f45d3960 UBS pledges to boost payouts as pandemic impact diminishes https://www.ft.com/content/10005024-87dc-41b8-abc4-728261b34bf0  <br><hr><p style="color: grey;">See <a style="color: grey;" target="_blank" rel="noopener noreferrer" href="https://acast.com/privacy">acast.com/privacy</a> for privacy and opt-out information.</p>