Stocks tumble after Trump bans travel from Europe to contain virus blow

TOKYO (Reuters) – Global shares crumbled on Thursday after U.S. President Donald Trump said the United States will suspend all travel from Europe as he unveiled measures to contain the coronavirus epidemic that has extracted a heavy human and economic toll worldwide. U.S. S&P500 futures ESc1 dropped more than 3%, a day after the S&P 500 .SPX lost 4.89%, putting […]

Read more

Bear market fears grip global shares as pandemic declared, eyes on Trump

TOKYO (Reuters) – Global shares were set for a rocky ride on Thursday as investors tally the economic damage of coronavirus, a day after the U.S. Dow Jones industrials entered bear market territory and world health officials declared the virus a pandemic. Markets desperate for government action to offset the impacts of the global outbreak will look to an address […]

Read more

U.S. oil company workers make big, bad retirement bet: their own stock

BOSTON (Reuters) – Employees at the largest U.S. oil companies have lost around $5 billion in retirement savings since the end of 2018 because of outsized bets on their own slumping stock, according to a Reuters analysis of company disclosures, a trend exacerbated by the recent crash in oil prices. The losses spread across the 401(k) plans of some 66,000 […]

Read more

Coronavirus raises fears of U.S. auto sales slowdown, but production not suffering yet

DETROIT (Reuters) – Fears of a U.S. sales slowdown in auto showrooms due to the coronavirus outbreak that has spread globally are appearing in analysts’ forecasts, but industry executives said the pandemic has yet to affect demand or factory production. Officials with Detroit automakers General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV (FCHA.MI) (FCAU.N) on […]

Read more

Exclusive: Boeing to separate 737 MAX wire bundles before jet's return to service – sources

SEATTLE/WASHINGTON (Reuters) – Boeing Co (BA.N) plans to separate 737 MAX wiring bundles, flagged by regulators as potentially dangerous, before the jet returns to service, two people familiar with the matter told Reuters on Wednesday. The changes mark a reversal from the U.S. planemaker’s initial recommendation to the Federal Aviation Administration and pose a fresh hurdle to the jet’s already-delayed […]

Read more

Wall Street tumbles, Dow confirms bear market

NEW YORK (Reuters) – Wall Street plunged on Wednesday, with the Dow confirming a bear market for the first time since the 2008 financial crisis as the World Health Organization called the coronavirus outbreak a pandemic. The Dow Jones Industrial Average .DJI fell 1,464.63 points, or 5.85%, to 23,553.53, the S&P 500 .SPX lost 140.84 points, or 4.89%, to 2,741.39 […]

Read more

S&P 500 falls 20% from record high, crossing bear market threshold

(Reuters) – The S&P 500 .SPX on Wednesday fell 20% below its Feb. 19 intraday record high, crossing the threshold into a bear market after the World Health Organization classified the coronavirus outbreak as a pandemic. Earlier in the session the Dow Jones Industrial Average .DJI also dipped 20% below its intraday record high reached on Feb. 12. To confirm […]

Read more

Trump to discuss coronavirus response with Wall Street chiefs

NEW YORK/WASHINGTON (Reuters) – President Donald Trump will meet with Wall Street executives on Wednesday to discuss the financial industry’s response to the coronavirus and the toll it is taking on small businesses, markets and the broader economy, the White House said. The Trump administration in recent days has tapped financial regulators to assess financial resilience and unveiled a fiscal […]

Read more

Factbox: Airlines count mounting costs of the coronavirus shock

(Reuters) – Airlines across the globe are feeling the pain as travel demand withers because of the coronavirus outbreak. Several have grounded many flights and ditched their financial outlooks. Below is a list of how the world’s biggest airlines have responded to the sharp drop in travel demand since the outbreak forced a multitude of cancellations. AIR FRANCE KLM (AIRF.PA) […]

Read more

Wall Street pounded by growth fears as Boeing slumps

(Reuters) – U.S. stock indexes tumbled on Wednesday as investors worried over the absence of immediate measures from President Donald Trump’s administration to counter the economic fallout from the coronavirus outbreak. The Dow Jones Industrial Average fell 4.59%, the biggest decliner among the major indexes, also weighed down by a 10% drop in shares of constituent Boeing Co (BA.N). The […]

Read more
1 523 524 525 526