The world’s faltering effort to contain the coronavirus outbreak hammered stock and oil futures on Sunday, which indicated a sharply lower open on Wall Street. …read more […]
Mar.08 — Katie Bays, co-founder of advisory firm Sandhill Strategy LLC, discusses the outlook for oil prices. Oil markets fell the most since the U.S. war in Iraq in 1991 after the disintegration of the OPEC+ alliance triggered an all-out price-war among the world’s biggest producers. Bays speaks with Paul Allen on “Bloomberg Markets.” …read more […]
Asian share markets were set for a beating 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 world’s top oil exporter plans to raise its production significantly after the collapse of OPEC’s supply cut agreement with Russia, a grab for market share reminiscent of a drive in 2014 that caused prices to slump around two thirds. The number of people infected with coronavirus topped 107,000 across the world as the outbreak reached more countries and caused more …read more […]
Asian share markets were set for a beating 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.
(Bloomberg) — Oil markets tumbled the most since the Gulf War in 1991 after the disintegration of the OPEC+ alliance triggered an all-out price-war among the world’s biggest producers.In one of the most dramatic bouts of selling ever, Brent futures sunk by 31% in a matter of seconds after the open of trading in Asia on Monday after already suffering their biggest loss since the global financial crisis at the end of last week. As Brent collapsed as low as $31 a barrel, Goldman Sachs Group Inc. warned prices could drop into the $20s.Hammered by a collapse in demand due …read more […]
(Bloomberg) — Futures on American stock indexes tumbled, extending their 13% drop since mid-February, as plummeting oil prices added to the backdrop of dread surrounding the coronavirus outbreak.The drop erased the rally that lifted cash equities in the final hour of trading on Friday, as crude sank more than 20% in the deepest rout since the U.S.-led war in Iraq in 1991. While energy and commodity stocks only make up about 5% the S&P 500, plunging crude prices worsened sentiment as one of the starker signals of the outbreak’s economic toll.Volatility has been rampant in markets around the world amid …read more […]
The price of futures contracts for the S&P 500 index fell more than 4% on Sunday as trading for U.S. equity markets resumed, a sign that investors fear the toll from the fast-spreading coronavirus will deepen.
(Bloomberg) — Crude oil prices crashed and U.S. equity futures plunged at the open Monday in Asia, while the yen and sovereign bonds jumped, as a price war for crude threatened an already fragile global economy hit by increasing coronavirus worries.Brent opened 20% lower. S&P 500 futures were down well over 3%. Japan’s yen was up about 1% against the greenback in early trading, while the Mexican peso tumbled along with Canada’s dollar. Equities in the Middle East plunged on Sunday as Saudi Arabia slashed the price of its crude after producers failed to agree on supply cuts. Stocks in …read more […]
Pacific Investment Management Co (PIMCO), one of the world’s largest investment firms, told clients on Sunday the coronavirus outbreak is likely to cause a relatively mild and short recession though tight credit markets could worsen the downturn.
As the coronavirus spreads in the financial hub of New York, financial firms – led by the Securities Industry and Financial Markets Association (SIFMA)– have triggered their contingency plans and are taking other precautions. As of Sunday, here is the state of play:
The United States shale patch has received a lot of negative press recently, but is it actually justified or is the media missing the bigger picture? …read more […]
(Bloomberg) — The Japanese yen jumped to the strongest level since 2016 in the start of another roller coaster week, but this time with an oil-price war to add to the distress.Canada’s dollar and Norway’s krone dropped at the open in Sydney after Saudi Arabia slashed official crude selling prices, firing the first shots in a dispute with the world’s biggest oil exporters. The euro climbed to the highest against the dollar since July, which may give the European Central Bank food for thought when it decides on interest rates on Thursday.The prospect of competing price-cuts by the biggest crude …read more […]
The week’s best and worst from Kim Strassel, Jason Riley, Mary O’Grady and Dan Henninger. Image: Chip Somodevilla/Getty Images …read more […]
A broad liberal threat against the rule of law. Image: Sarah Silbiger/Getty Images …read more […]
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