Delta Air Lines said on Wednesday it was parking more than 600 jets, cutting corporate pay by as much as 50%, and scaling back its flying by more than 70% until demand begins to recover from the coronavirus epidemic hit.
Tesla Inc’s vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
The S&P 500 index fell on Wednesday when trading resumed after an initial automatic 15-minute cutout, as investors priced in a complete breakdown in business activity and consumer spending from the coronavirus pandemic.
Yahoo Finance’s Jared Blikre joins Adam Shapiro and Julie Hyman on On The Move to break down the latest market action amid the coronavirus outbreak. …read more […]
Global equities tumbled anew on Wednesday, with bond and gold prices also falling in an unusual tandem, as markets grappled with the sheer scale of government programs and handouts aimed at softening the economic shockwave from the coronavirus.
Delta Air Lines said on Wednesday it was parking more than 600 jets — at least half of its fleet — cutting more flights and implementing a round of paycuts for officers, managers, and directors while members of the board forgo compensation.
U.S. regulators are considering issuing guidance that would encourage lenders to offer loans to low-income individuals and to provide leniency on some repayments amid the coronavirus pandemic, an official within a banking agency told Reuters.
Those investors that think the bottom is nearing might want to reconsider, Hercules Investment CEO James McDonald. …read more […]
The Trump administration on Wednesday asked Congress to approve $500 billion in cash payments to taxpayers in two rounds that would start April 6 and $50 billion in secured loans to U.S. airlines to address the financial impact of the coronavirus, according to a document seen by Reuters.
The Dow Jones index fell more than 7% to a three-year low on Wednesday, moving into negative territory compared to levels when President Donald Trump took office and marking the latest landmark in Wall Street’s most dramatic selloff in decades.
General Motors Co will furlough all its employees in Brazil starting on March 30, the company said in a statement to Reuters on Wednesday, suggesting that GM’s production in South America’s main car market would stop due to the coronavirus outbreak.
Bernie Sanders suspends his bid to become the Democratic nominee, while Governor Cuomo has announced that there are more than 2,000 coronavirus cases in NY. Yahoo Finance’s Adam Shapiro has the latest on On The Move. …read more […]
The Federal Reserve continued its efforts to soften the impact of the coronavirus on the U.S. economy by re-opening its crisis-era primary dealer credit facility. Yahoo Finance’s Brian Cheung joins On The Move to break down the latest developments. …read more […]
The oil market could see a record supply surplus in April as coronavirus wipes out demand and big producers pump more, creating a global glut that threatens to overwhelm storage capacity within months and force widespread industry shutdowns, analysts said on Wednesday.Crude is already gushing into storage at land and sea worldwide as countries curb travel and economic activity falls due to coronavirus. Storage levels are rising even before a wave of supply hits the market from Saudi Arabia, Russia and other producers who are gearing up to fight a price war for market share. Brent crude prices …read more […]
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 […]
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