Shares of Boeing Co dropped more than 12% on Monday amid a broader market plunge as pressure mounted on global aviation from the spread of the coronavirus and U.S. regulators said they disagreed with Boeing’s argument about the safety of wiring bundles on the grounded 737 MAX jet.
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
William Ackman’s publicly traded hedge fund gained nearly 3% this year, though the billionaire investor warned of volatility ahead as world markets reel under the economic hit from the coronavirus epidemic.
Oil prices jumped more than 6% on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained.
Boeing Co said late on Monday an employee at its Everett facility in Washington state has tested positive for the coronavirus and has now been quarantined.
Qantas Airways Ltd has asked Airbus SE for an extension to a March-end deadline to order up to 12 A350-1000 planes capable of the world’s longest commercial flights from Sydney to London, the airline’s CEO said on Tuesday.
Qantas Airways Ltd will cut its international capacity by nearly 25% over the next six months and delay an order for Airbus A350 planes as part of sweeping changes in response to a coronavirus-led plunge in passenger demand.
Oil prices rose by more than $1 on Tuesday after a price war by top producers Saudi Arabia and Russia sparked the biggest daily rout since the 1991 Gulf War, but investors saw little chance of a quick price recovery as the coronavirus cuts demand.
Oil prices jumped more than 6% on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained. Brent crude futures rose $2.31, or 6.7%, to $36.67 a barrel by 0115 GMT, while U.S. West Texas Intermediate (WTI) crude gained $1.79, or 5.8%, to $32.92 a barrel following declines of nearly 25 percent on Monday. Both benchmarks dropped to their lowest since February 2016 in the previous session and recorded their biggest one-day percentage declines since …read more […]
Asian markets skidded again on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, but the selling was restrained by hopes for coordinated policy action to quell the panic.
The Trump administration on Monday accused “state actors” of touching off an historic slump in global oil prices, and urged Russia’s ambassador to the United States to consider the importance of calming the markets.
(Bloomberg) — U.S. stock futures saw a modest gain in early Asian trading Tuesday after the biggest rout in equities on Wall Street since 2008.Contracts on the S&P 500 Index, which briefly traded down 20% from their high — signaling a bear market — gained after the Trump administration previewed economic measures to be unveiled Tuesday to address the blow from the coronavirus. Treasury Secretary Steven Mnuchin rejected comparisons with the financial crisis. Australia’s benchmark fell as much as 3.8% before erasing most of the losses. Japan stocks are set to open weaker, while bonds and currencies stabilized after wild …read more […]
Asian markets were set for a fraught session on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, piling pressure on policy makers globally to short-circuit the panic.
(Bloomberg) — U.S. stock futures erased losses after President Donald Trump promised “very substantial relief” for the economy as the coronavirus spreads.Contracts on the S&P 500 gained 1.5% as of 8:17 a.m. in Tokyo, erasing earlier losses as Trump said he’s considering payroll-tax cuts. The White House virus task force is holding a press conference in Washington.Futures had dropped as much as 1.9%, bringing the plunge since a February record past almost 20%. Dow Jones Industrial Average contracts also briefly fell more than 20% from the all-time high.“We certainly expect an economic slowdown but so much of where the global …read more […]
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