Wall Street slumps, government bonds hammered as stimulus high fades

LONDON (Reuters) – Wall Street resumed a steep slide on Wednesday while bond markets rushed to price in the sheer scale of government support programs and handouts announced over the past 24 hours, all aimed at softening the economic shock of coronavirus. Dire trading conditions continued to make two-way trading difficult and exaggerated the moves as investors piled into cash […]

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JPMorgan commits $50 million to businesses, people affected by coronavirus

NEW YORK (Reuters) – JPMorgan Chase & Co (JPM.N) said on Wednesday that it committed $50 million to funds and community groups that are providing food, support and medical supplies for people in the United States, Europe and Asia affected by the cornavirus. The largest U.S. bank is initially giving $15 million to groups coping with the disease’s impact on […]

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U.S. crude hits 17-year low as lockdowns, restrictions spread

LONDON (Reuters) – Oil prices fell for a third session on Wednesday with U.S. crude futures tumbling to a 17-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. U.S. crude Clc1 was down $1.15 cents, or 4.27%, at $25.80 per barrel by 0938 GMT, having earlier fallen to $25.68, its lowest since […]

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Stocks, oil sliding again in 'irrevocably changed' markets

LONDON/TOKYO (Reuters) – Global stocks stumbled back into the red on Wednesday with Wall Street futures pointing to more losses ahead as fears over the coronavirus fallout eclipsed large-scale support measures rolled out by policymakers around the globe. Some traditional safe-haven assets such as gold were also under pressure as battered investors looked to unwind their damaged positions. Oil prices […]

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Governments offer aid as airlines forced to deepen cuts to flights, staffing

SYDNEY/CHICAGO (Reuters) – Australia and Taiwan joined governments offering financial aid to airlines as coronavirus and stricter travel controls forced carriers to deepen cuts to capacity and staffing. U.S. airlines have asked Washington for $50 billion in grants and loans, plus tens of billions in tax relief. Sector executives are due to speak with U.S. President Donald Trump by phone […]

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Global stocks drop as investors shun risk on coronavirus fears

TOKYO (Reuters) – U.S. stock futures and several Asian shares fell in choppy trade on Wednesday, as worries about the coronavirus pandemic eclipsed hopes broad policy support would combat the economic fallout of the outbreak. Most traditional safe-haven assets were also under pressure as battered investors looked to unwind their damaged positions, leading to wide discrepancies between various markets. In […]

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Exclusive: Boeing seeking 'tens of billions' in U.S. government loan guarantees – sources

WASHINGTON (Reuters) – Boeing Co is seeking “tens of billions of dollars” in U.S. government loan guarantees and other assistance as faces it a looming liquidity crunch from the massive coronavirus economic disruption impacting the entire aviation sector, two people briefed on the matter told Reuters. The U.S. planemaker has told lawmakers it needs significant government support to meet liquidity […]

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U.S. Treasury approves revival of Fed primary dealer backstop

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin on Tuesday said he approved the creation of a new primary dealer credit facility to ease credit market disruptions caused by the coronavirus epidemic, resurrecting the second 2008 financial crisis-era backstop in less than a day. The facility, managed by the Federal Reserve Bank of New York, will offer loans up to […]

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Wall Street rebounds from Monday's crash as Fed boosts liquidity

(Reuters) – Wall Street rebounded on Tuesday, following its steepest declines since the 1987 crash, as the Federal Reserve took more steps to boost liquidity in a market sapped by business and travel disruptions in the wake of the coronavirus pandemic. The benchmark S&P 500 .SPX was up 5% after the central bank relaunched a financial crisis-era purchase of short-term […]

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