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Freight carriers are struggling to deliver goods by land, sea or air as the coronavirus pandemic forces Western governments to impose lockdowns, threatening supplies of vital products including medicines into the most affected areas, such as Italy.
Yahoo Finance’s Jared Blikre joins the On The Move panel to break down how the markets are being impacted by the coronavirus outbreak. …read more […]
Wall Street’s slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting the S&P 500 on pace for its worst month since World War Two.
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.
Market researchers at RBC Capital, led by Lori Calvasina, head of the bank’s US Equity Strategy, have analyzed current conditions, comparing them to past recessions, and see the coming downturn as both short and mild. They based their conclusions on the behavior of the S&P 500 during downturns since 1937.Getting into specifics, Calvasina’s team says of current conditions, “Our new YE 2020 S&P 500 price target of 2,750 implies a 15% drop for the full year, as well as a 15% rebound from recent levels… we continue to believe that the bulk of the stock market impact from the coronavirus …read more […]
Michael Isikoff, Chief Investigative Correspondent at Yahoo News, joins the On The Move panel to discuss the reaction of the government and the public to the spread of the coronavirus. …read more […]
The novel coronavirus outbreak will likely bring the U.S. housing market to a halt, according to one economist. …read more […]
House Representatives Ayanna Pressley (D-MA) and Ilhan Omar (D-MN) are proposing to cancel $30,000 in student debt to help borrowers adversely affected by the coronavirus, or COVID-19. …read more […]
SoftBank Group Corp plans to raise as much as $41 billion to buy back shares and reduce debt in an unprecedented move to restore investor confidence as a financial market rout pummels its shares and its portfolio companies.
The U.S. Federal Reserve on Monday rolled out an extraordinary new array of programs aimed at blunting the “severe disruptions” to the economy caused by the coronarvirus outbreak, backstopping an unprecedented range of credit for households, small businesses and major employers.
Widening travel curbs to contain the spread of the coronavirus led to further flight cancellations on Monday, with new restrictions spanning India, Australia, New Zealand, the United Arab Emirates (UAE), Hong Kong, Singapore and Taiwan.
Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak, scrapping flights and ditching financial forecasts.
General Electric Co’s aviation unit will cut its U.S. workforce by about 10%, Chief Executive Officer Larry Culp said in a letter to staff on Monday, as a shattered airline industry sought state support to survive the coronavirus crisis.
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