The coronavirus is bigger than SARS but not as deadly, with thousands of cases worldwide. Shipping rates plunged and stocks slid amid fears that the costs surrounding the virus could eclipse the $40 billion hit of SARS. Chinese tourists spend $79 billion on hotels, luxury shops and attractions. But remember: in America, the flu season could be even worse.

What you’ll want to read this weekend

The Trump impeachment saga isn’t quite over. But whether you’re a Republican or a Democrat, it’s reasonable to fear a United States of Impeachment, Cass R. Sunstein writes for Bloomberg Opinion.

The U.K. finally says goodbye. But Scotland kept the European Union flag flying. Britain has a year to remake its complicated relationship to Europe. It also needs a new identity.

The right wing in America is divided on regulating big tech. Its politicians say the platforms are biased in favor of the left, while some big Republican interests want what they call “responsible stewardship” Tech is doing very well regardless: note how Amazon blew through a $1 trillion valuation.

It was long taboo, but formally annexing occupied land in the West Bank from Palestinians is at the heart of the U.S.-backed “deal of the century” which the rest of the world says is dead on arrival. Indicted Israeli Prime Minister Benjamin Netanyahu may gain votes, but the result could be renewed violence, Hussein Ibish writes in Bloomberg Opinion.

Tesla is soaring ever higher. From earnings to stock price, from deliveries to successful space missions, Elon Musk’s empire is ascendant.

What you’ll need to know next week

• Super Bowl Sunday: the ads are political and very pricey.
• The Iowa caucuses are here, and Senator Bernie Sanders is ahead.
• More earnings are coming, including Ford, GM and Disney.
• President Donald Trump delivers the State of the Union address.
• Argentina’s president will meet the IMF’s top official.

What you’ll want to read in Bloomberg Markets

Where Trade Matters Most All Over the World

Policy uncertainty has put a dent in global trade, with prolonged tensions pointing to a slow recovery in 2020. We’ve tracked some key gauges that speak to the health of global trade and where things are headed.

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