Oil prices tumbled nearly 3% towards a one-week low on Monday as the rapid spread of the coronavirus in several countries outside China left investors fretting about a hit to demand.
Global shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.
(Bloomberg) — A decade-long slide in Australian interest rates is threatening to turn one of the global currency market’s most popular wagers on its head.Investors with an appetite for a little risk had a winner for years with a carry trade that saw them borrow trillions of yen at near-zero rates and use the money to buy Australian dollars. Holding onto the Aussie for as little as a few weeks could earn them enough interest to make the trade pay. Those brave enough to stick with it for months or more made huge profits.Not anymore.Foreign exchange traders are starting to …read more […]
The week’s best and worst from Kim Strassel, Kyle Peterson and Dan Henninger. Image: Aleksey Nikolskyi/Getty Images …read more […]
Feb.23 — South Korean President Moon Jae-in raised the country’s infectious-disease alert level to the highest and signaled the potential for unprecedented steps to contain a coronavirus outbreak that has killed six and infected hundreds. Bloomberg’s Yvonne Man speaks with Haidi Stroud-Watts and Tom Mackenzie on “Bloomberg Markets: Asia.” …read more […]
(Bloomberg) — U.S. stock-index futures dropped as news of the coronavirus spreading in countries including Italy and Iran increased concern over its potential impact on global growth.S&P 500 Index contracts expiring in March slid as much as 1.5% in early Asian trading Monday after finance chiefs and central bankers from the world’s largest economies said they see downside risks to growth persisting as the deadly virus continues to spread. Dow Jones Industrial Average futures declined as much as 1.4%, while those on the Nasdaq 100 Index retreated as much as 1.8%.China’s coronavirus cases rose to at least 76,936 over the …read more […]
Global shares and oil extended losses on Monday while safe-haven gold soared as the spread of the coronavirus outside China accelerated with infections jumping in South Korea, Italy and the Middle East, in a worrying new development in the outbreak.
(Bloomberg) — Brigita, a director at one of China’s largest car dealers, is running out of options. Her firm’s 100 outlets have been closed for about a month because of the coronavirus, cash reserves are dwindling and banks are reluctant to extend deadlines on billions of yuan in debt coming due over the next few months. There are also other creditors to think about.“If we can’t pay back the bonds, it will be very, very bad,” said Brigita, whose company has 10,000 employees and sells mid- to high-end car brands such as BMWs. She asked that only her first name …read more […]
Tesla’s share price has almost tripled this year, and while electric cars remain the company’s most important product, it could actually become a real energy giant …read more […]
Oil prices tumbled more than 2% on Monday as investors worried about a hit to demand from the coronavirus outbreak, which is spreading rapidly outside China. U.S. crude futures fell by $1.26 or 2.3% to $52.12. Concerns about the coronavirus grew on Sunday after sharp rises in infections in South Korea, Italy and Iran. …read more […]
Oil prices tumbled more than 2% on Monday as investors worried about a hit to demand from the coronavirus outbreak, which is spreading rapidly outside China.
France is ready to support Lebanon financially – bilaterally or multilaterally – its finance minister said on Sunday, warning against mixing economic recovery in the small Mediterranean state with U.S.-led efforts to counter Iran in the region.
Feb.23 — Joe Biden is declaring himself back into the race for the presidency after early results in Nevada showed the former vice president in second place. Senator Bernie Sanders won the caucus. …read more […]
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