Getty Images Massive disruptions in China’s economy cause by COVID-19 are cascading throughout the rest of the world, including the United States. The numbers: Most U.S. manufacturers said business began to slow to a crawl in February as supply bottlenecks tied to the coronavirus impaired their ability to get parts,Read More →
The U.S. stock-market rally has unraveled, with a period of historic gains coming to a screeching halt, as fear that the coronavirus epidemic may reach America rattles Wall Street. The Dow Jones Industrial Average DJIA, -1.39% fell into correction on Thursday, widely defined as a drop of at least 10%,Read More →
A historic week for the stock market ended with a big, fat question mark: what will the government and the Federal Reserve do about the coronavirus outbreak that threatens to decimate the longest-running bull market on record? The infectious disease, Covid-19, which reportedly originated in Wuhan, China, late last year,Read More →
U.S. stock futures fell sharply on Friday, a day after major benchmarks pushed into correction territory as investor fears heightened over just how much damage the fast-spreading coronavirus will wreak on the global economy. How are major benchmarks trading? Dow Jones Industrial Average futures YM00, -2.27% slid over 600 points,Read More →
European stocks slumped on Thursday, as new virus cases mount outside of China, including the first from an unknown source in the United States. The Stoxx Europe 600 SXXP, -2.29% dropped 2.1% to 396.31, which is roughly at the lows of Wednesday. Banks, including BNP Paribas BNP, -3.67%, and insurers,Read More →
The growing number of COVID-19 cases and deaths outside of Asia has put pressure on U.S. officials to more clearly articulate preparedness plans in an effort to ease American worries about the possibility of a pandemic. President Donald Trump tweeted Wednesday that he plans to hold a news conference onRead More →
Asian markets declined in early trading Wednesday following another sharp selloff on Wall Street as the global spread of the coronavirus outbreak continued to rattle traders. Japan’s Nikkei NIK, -0.79% sank 0.7%, and Hong Kong’s Hang Seng Index HSI, -0.82% dipped 0.5%. The Shanghai Composite SHCOMP, -0.82% Read More →
U.S. stock market futures sank late Sunday as the spread of coronavirus raised worries that global economic growth could take a hit. Dow Jones Industrial Average futures YM00, -1.37% fell about 400 points late Sunday, suggesting a steep drop when U.S. trading starts Monday morning. S&P 500 futures ES00,Read More →
The hope going into 2020 was that the U.S. economy would get an adrenal rush from stronger business investment after an interim deal that tempered trade tensions with China. Those hopes appear to have been dashed. A spreading coronavirus in China and elsewhere is snarling global supply chains, making itRead More →
U.S. Treasury yields extended their weeklong slump on Friday as investors worried that the economic impact of COVID-19 may not be contained to China, and is spilling over into neighboring regions. What are Treasurys doing? The 10-year Treasury note yield TMUBMUSD10Y, -3.50% fell 5.4 basis points to a more thanRead More →
While investors may be tired of hearing how virus-complacent they are, as stocks keep busting records, our call of the day from Goldman Sachs is saying exactly that. “In the nearer term…we believe the greater risk is that the impact of the coronavirus on earnings may well be underestimated inRead More →
Asian markets were mixed in early trading Thursday after China’s central bank cut its loan prime rate, as expected. The People’s Bank of China cut its benchmark one-year loan prime rate by 10 basis points, and the five-year loan prime rate by 5 basis points. That came days after centralRead More →
China’s extraordinary economic growth over the past four decades transformed the country into the world’s second-biggest economy. The key to this growth is global trade. China is not only the largest trading partner in the world, but it is also central to a myriad of supply chains. From raw materialsRead More →
U.S. stocks were mostly down, but off session lows, late Tuesday after Apple Inc. said that the viral outbreak in China would hurt its second-quarter results, reigniting fears that the disease may disrupt manufacturing supply chains and have broad implications for the global economy and financial markets. How are theRead More →
There is now a price tag on the tweet that ravaged the NBA’s business in China: hundreds of millions of dollars. Houston Rockets general manager’s Daryl Morey tweet in October supporting the protesters in Hong Kong enraged the Beijing government and resulted in an extraordinary standoff between the world’s mostRead More →
Festering worries about the spread of COVID-19 is a potential peril for the U.S. economy, but ailing manufacturers and tepid investment are already muzzling growth. Wall Street has been hoping for fresh signs of a rebound in business spending, but the first batch of reports for February is unlikely toRead More →
Michael Jordan changed the way basketball shoes were perceived when he signed his iconic Nike NKE, +2.98% deal in 1984 and debuted the Air Jordan 1. Basketball shoes became so popular that they soon outgrew the court and were being worn as everyday shoes. For years, basketball shoes adorned withRead More →
‘I think there are lots of troubles coming… There’s too much wretched excess.’ That’s Charlie Munger, vice chairman of Berkshire Hathaway BRK.A, +0.06% , sharing his thoughts on the current climate at the Daily Journal annual shareholder meeting on Wednesday. Munger, who serves as chairman for the Daily Journal alongRead More →
Stock-index futures struggled for direction Monday as investors monitored developments around the spread of the coronavirus and as earnings season moves into its final stage. What are major indexes doing? Futures on the Dow Jones Industrial Average YMH20, -0.19% fell 60 points, or 0.2%, to 28,984, while S&P 500 futuresRead More →
Americans’ concerns over the new coronavirus have spawned a public-health emergency declaration, a controversial travel ban and quarantine, and China-bound flight suspensions. But the better-known flu virus is a far greater threat to Americans’ health right now, data from the Centers for Disease Control and Prevention suggest. There are nowRead More →
Investors made crystal clear this past week that they aren’t ready to abandon the “buy-the-dip” response to stock market pullbacks, despite warnings that the tried-and-true approach may soon meet its match. Indeed, one high-profile warning came from Mohamed El-Erian, the chief economic adviser at Allianz and former chief executive atRead More →
BEIJING — China is considering possible countermeasures to cushion the blow from the coronavirus outbreak that is expected cause a temporary disruption to the economy, a central bank official said. “The coronavirus outbreak will be temporary and will not change the long-term improvement of China’s economy,” Pan Gongsheng, a viceRead More →
Thank China (again) for what looks like another bullish day on Wall Street after Beijing pledged to halve tariffs on $75 billion in U.S. imports, while political uncertainty has eased after the Senate acquitted U.S. President Donald Trump. That is as investors have decided the deadly coronavirus isn’t a reasonRead More →
Markets in mainland China plunged early Monday, on their first day of trading since an extended Lunar New Year holiday that coincided with the rapid spread of the coronavirus outbreak. Global markets have fallen in recent weeks and China had braced itself for steep losses, with the People’s Bank ofRead More →
Two months into the epidemic, the coronavirus has not proven to be as deadly as the SARS virus. That, however, may also help explain why it’s spreading so quickly. It has an incubation period of up to two weeks, which enables the virus to spread through person-to-person contact. The coronavirus,Read More →
