China’s Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.
Governments and central banks readied more emergency measures to tackle the economic impacts of the coronavirus on Friday as Asian markets suffered their worst weekly crashes since the 2008 financial crisis.
The dollar stood tall on Friday as investors scrambled for the world’s most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed by not cutting rates.
The fallout from the coronavirus spread across the Pacific on Friday, with travel companies in Australia and New Zealand issuing profit warnings as U.S. airlines rushed to cut flights to Europe in the wake of new U.S. travel restrictions.
Oil prices fell on Friday for a third day, with Brent crude set for its biggest weekly drop since 1991 and U.S. crude heading for the worst week since 2008 as panic about plunging demand from the coronavirus outbreak grips the market.
Asia’s stock markets crashed on Friday as panic gripping world financial markets deepened, and even haven assets such as gold and bonds were ditched to cover losses in the wipeout.
Apple Inc is reopening all 42 of its branded stores in China on Friday, a company spokesman said, more than a month after they were shut in the wake of the coronavirus outbreak.
The U.S. Trade Representative’s office said it granted on Thursday exclusions from import tariffs for some medical products imported from China, including face masks, stethoscope covers and blood pressure cuff sleeves.
Juul Labs Inc said on Thursday co-founder James Monsees plans to leave the e-cigarette maker, stepping down as an adviser and board member.
The dollar stood tall on Friday as investors scrambled for the world’s most liquid currency amid deepening panic about the coronavirus while the euro nursed losses after the European Central Bank disappointed investors by not cutting rates.
Europe’s Airbus on Thursday welcomed a move by Washington state to remove what it called “illegal subsidies” to Boeing, but said the U.S. planemaker had received billions of dollars in other subsidies and tax breaks.
Coronavirus is probably the 1 concern in investors’ minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […] …read more […]
Asia’s stock markets were hammered on Friday as panic gripping world financial markets deepened and even safe-haven assets such as gold and bonds were ditched to cover losses in the wipeout.
(Bloomberg) — Michael Burry said he amassed a “significant” bearish wager that’s performing well as riskier assets tumble and warned of an exodus from passive investments as the coronavirus pandemic batters the global economy.The California-based money manager, who shot to fame after betting against mortgage securities before the 2008 financial crisis, said recent market turmoil may burst the “bubble” in passive investing that he’s been warning about since August. Burry said central bank stimulus, which underpinned an 11-year bull market in large-cap stocks, can’t do much to help during a pandemic.“I have had a significant bearish market bet that is …read more […]
Transport Canada said on Thursday it is revising a deal that would have reduced technical work done by the Canadian regulator when validating Federal Aviation Administration (FAA) certified aircraft like the Boeing 737 MAX.
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