Oil extended losses on Monday as an emergency rate cut by the U.S. Federal Reserve failed to soothe global financial markets panicked by the rapid spread of the coronavirus while a price war rages on between top producers.
United Airlines Holdings booked $1.5 billion less revenue in March than the same time last year and warned employees that planes could be flying nearly empty into the summer, even after drastic flight capacity cuts.
Stock markets and the dollar were roiled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets.
(Bloomberg) — Global financial markets are now in a bottoming phase, and investors should start to add risk and sell the U.S. dollar, according to Morgan Stanley.The tightening of financial conditions has been fast and furious, caused by a slump in stock markets and a widening of credit spreads, strategists including Matthew Hornbach in New York wrote in a report published Friday. However, support measures, mainly by central banks so far, are helping to deliver easing and stabilize the situation, they said.“That’s not to say we’re ‘calling the bottom’ or we’ve seen the lowest prices in risk assets,” the strategists …read more […]
Former Vice President Joe Biden said he’d choose a woman to be his running mate during Sunday’s Democratic debate with Senator Bernie Sanders. Photo: Kevin Lamarque/Reuters …read more […]
Stock markets and the dollar were roiled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to break a logjam in global lending markets. …read more […]
(Bloomberg) — Gold jumped after the Federal Reserve cut its benchmark interest rate by a full percentage point to near zero, sending U.S. equity futures tumbling, and pointing to another volatile week as markets brace for more moves from the world’s central banks.Bullion climbed 3%, before paring gains, as the U.S. central bank moved to cushion the economy from the fallout of the coronavirus. Prices fell the most since 1983 last week as investors rushed to raise cash to cover losses in other markets, while a stronger dollar also curbed the metal’s appeal.The Fed announced several other actions, including letting …read more […]
More major retailers said on Sunday they would shut stores in the United States to limit the spread of the coronavirus, including Nike, Under Armour, and Lululemon Athletica, a day after similar moves by several other U.S. retailers.
Stocks were slammed on Monday and the dollar battered after emergency rate cuts in the United States and New Zealand, and a raft of steps by policymakers worldwide failed to stem the rout in markets spooked by the broadening fallout of the coronavirus.
Mar.15 — In response to the growing threat from the coronavirus, the Federal Reserve held an emergency meeting and cuts rates to near zero and is pledging to buy assets of at least $700 billion. Fed Chair Jay Powell held a conference call with reporters. (Excerpts from call with reporters.) …read more […]
The U.S. Federal Reserve and global central banks moved aggressively on Sunday to buttress a world economy unraveling rapidly amid the coronavirus pandemic, with the Fed slashing interest rates to near zero, pledging hundreds of billions of dollars in asset purchases and backstopping foreign authorities with the offer of cheap dollar financing.
Las Vegas giant Wynn Resorts is temporarily shutting down its Vegas properties to battle the coronavirus. …read more […]
Officials in Europe and U.S. took dramatic steps to slow a pandemic that’s killed over 6,000 people and sickened scores of others. …read more […]
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