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(Bloomberg) — U.S. stock futures slid, hitting exchange-enforced bands that prevent further losses, as investors assess the Trump administration’s beefed up policy response to the coronavirus.Contracts on the S&P 500, Nasdaq 100 and Dow Jones Industrial Average all reached the so-called limit down level established each day by the Chicago Mercantile Exchange. Futures on the S&P 500 lost as much as 3.7% to 2,393.5, while dropping 4.4% for the Nasdaq 100 and falling 3.9% for the Dow Jones Industrial Average. Treasury Secretary Steven Mnuchin warned the coronavirus could send U.S. unemployment up to 20% without government intervention. The underlying S&P …read more […]

(Bloomberg) — Hong Kong’s equity traders haven’t been this nervous over Tencent Holdings Ltd.’s earnings in more than a decade.They’ve been buying derivatives to protect against losses, with bearish puts now costing the most in four years relative to bullish contracts. With the Internet giant reporting fourth-quarter results after Wednesday’s close, the options market is now pricing in a massive 7.1% move either way for the shares when trading reopens. That would be the biggest move since at least 2009, according to data compiled by Bloomberg.The company, one of the largest stocks in the Hang Seng Index, is projected to …read more […]

(Bloomberg) — Hong Kong’s equity traders haven’t been this nervous over Tencent Holdings Ltd.’s earnings in more than a decade.They’ve been buying derivatives to protect against losses, with bearish puts now costing the most in four years relative to bullish contracts. With the Internet giant reporting fourth-quarter results after Wednesday’s close, the options market is now pricing in a massive 7.1% move either way for the shares when trading reopens. That would be the biggest move since at least 2009, according to data compiled by Bloomberg.The company, one of the largest stocks in the Hang Seng Index, is projected to …read more […]

U.S. airlines are seeking to quickly reduce their workforces through early retirement packages or unpaid leave of up to 12 months with medical benefits in an effort to cut costs as the rapid spread of the coronavirus keeps people from flying. Moves by American Airline Group Inc and Delta Air Lines Inc , first reported by Reuters, were a further sign that airlines do not expect a quick rebound to depressed travel demand and must save costs. “Based on the decline in air travel, we need to quickly line up our staffing levels with the reduced flying …read more […]

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