Asian shares sank on Monday as panicked investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.
Financial markets have been thrown into turmoil following Saudi Arabia’s response to the collapse of OPEC+ talks and concerns about the global spread of the coronavirus.
Mar.08 — More than half the world’s countries have reported infections as global cases top 108,000 and additional travel restrictions are implemented around the world. Deaths in Italy have surged to 366. That’s the most recorded for a single country outside of China. Bloomberg’s Yvonne Man reports on “Bloomberg Markets: Asia.” …read more […]
U.S. stock futures tumbled Sunday following a sharp drop in oil prices, as Wall Street grapples with economic disruptions from the virus outbreak. …read more […]
Boeing Co’s proposal to leave wiring bundles in place on the grounded 737 MAX has not won the backing of U.S. aviation regulators, a person briefed on the matter told Reuters.
Boeing Co’s proposal to leave wiring bundles in place on the grounded 737 MAX has not won the backing of U.S. aviation regulators, a person briefed on the matter told Reuters. Last month, Boeing told the Federal Aviation Administration (FAA) it does not believe it needs to separate or move wiring bundles on its grounded 737 MAX jetliner that regulators have warned could short circuit with catastrophic consequences. The source said the FAA told Boeing on Friday that it did not agree with the planemaker’s argument that the planes’ wiring bundles meet safety standards and now it is …read more […]
NEW YORK – Citigroup Inc is splitting its staff in Buffalo, New York, to ensure it can keep its operations humming as the coronavirus spreads across the state, according to a source familiar with the plans.
(Bloomberg) — Waves of selling in U.S. stock index futures triggered Chicago Mercantile Exchange limits that prevent declines from surpassing 5% from a closing reference price, as the spreading coronavirus rattled investors and crude oil plunged.E-mini futures on the S&P 500 Index sank 5% to 2,819 as of 8:05 p.m. in New York, hitting a limit triggered when the measure falls 5% from the price calculated in the last 30 seconds of trading Friday. The curb means the contract can’t trade at a lower price for the remainder of the overnight session, although transactions at or above the threshold are …read more […]
Asian shares were set for a pounding on Monday as investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.
The price of futures contracts for the S&P 500 index, a Wall Street benchmark, fell more than 4% on Sunday as off-hours trading for U.S. equity markets resumed, a sign that investors fear the toll from the fast-spreading coronavirus will deepen.
Lookout below for oil prices as Saudi Arabia ratchets up pressure on Russia. …read more […]
Mar.08 — Jasmin Argyrou, director and portfolio manager at Credit Suisse Private Bank, discusses the outlook for the Australian economy, policies, and the fiscal stimulus package to protect the economy against the impact of the coronavirus that is expected to be announced Tuesday. She speaks with Paul Allen on “Bloomberg Markets.” …read more […]
American singer Elvis Presley, also known as the “King of Rock ‘n’ Roll”, died nearly 43 years ago. But his memory lives on in Hong Kong in the heart and soul of Kwok Lam-sang. Better known as “Melvis”, Kwok is one of the city’s busiest Elvis impersonators, who for about 28 years has consistently been taking his sometimes quirky renditions of Presley’s songs to the city’s entertainment districts. Kwok says he rarely takes a day off, and is ready to keep the King’s memory alive in his… …read more […]
Automakers across the world face the possibility of extended supply chain disruptions as factories in China stutter back to life after closures due to the coronavirus outbreak.
Oil futures suffered their biggest daily loss since 1991 on Sunday after Saudi Arabia slashed its official selling price (OSP) and announced plans to raise crude production significantly, signaling the start of a price war.
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