Goldman Sachs named top trader Michael Daffey as global markets chairman on Monday, with a remit to strengthen key client relationships as the Wall Street giant tries to remodel its trading business in Europe after Brexit.
Wall Street’s main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
U.S. President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified “Fake News,” for a precipitous drop in U.S. stock prices on Monday, amid sliding demand for crude due to the coronavirus.
The Dow is plunging today as markets react to the escalation of the coronavirus. Oil is also taking a hit after OPEC talks collapsed over the weekend. Yahoo Finance’s Adam Shapiro and Julie Hyman break down the latest on On the Move. …read more […]
Boeing shares were down at $231.60 in early trading, a level not seen since 2017. The Federal Aviation Administration (FAA) told Boeing on Friday it did not agree with the planemaker’s argument that the wiring bundles meet safety standards and now it is up to Boeing to decide how to proceed. Boeing in February said it did not believe it was required to separate or move wiring bundles on its grounded 737 MAX jetliner that regulators had warned could cause a short circuit on the 737 MAX, and lead to a crash if pilots did not react soon. …read more […]
Wall Street’s main indexes dropped 7% and the Dow Jones Industrials crashed 2,000 points in what would be its biggest one-day fall ever, as trading resumed on Monday following a 22% slump in oil prices.
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 Gulf War as Saudi Arabia and Russia signalled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
Older Americans, especially those with chronic medical concerns, should probably avoid big social gatherings and airline flights, given the rapid spread of coronavirus, a top U.S. health official said on Sunday, as investors braced for another volatile week in financial markets.
Airlines across the globe have suspended flights or modified services in response to the coronavirus outbreak.
U.S. stocks resumed trading after being halted as the benchmark S&P 500 index plunged 7% and triggered an automatic 15-minute cutout shortly after the opening bell on Monday.
Yahoo Finance’s Ines Ferre is live from the NYSE to break down the latest market action with Equity Market Strategist Tim Anderson. …read more […]
Tesco plans to return $6.6 billion to shareholders after agreeing to sell its supermarket businesses in Thailand and Malaysia to Charoen Pokphand Group as part of plans to refocus on Britain.
(Bloomberg) — Back in September 2017, Doug Parker, the chief executive of American Airlines Group Inc., predicted clear financial skies ahead for the world’s largest carrier.“I don’t think we’re ever going to lose money again,” Parker said during an investor gathering at Dallas-Fort Worth International Airport. “We have an industry that’s going to be profitable in good and bad times.” His counterpart at Delta Air Lines Inc., Ed Bastian, expressed similar optimism. Airlines, like most major companies, game out extreme financial shocks so they can be prepared for the worst. A few years after Parker’s comment, the industry is beginning …read more […]
The airline sector is feeling the heat of the coronavirus. Yahoo Finance’s Brian Sozzi and Alexis Christoforous break down what it could cost the industry with Alexandre de Juniac — Director General & CEO of the International Air Transport Association. …read more […]
As stocks are tumbling around the world, investors are looking to the U.S. treasury market. Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Brian Cheung discuss.
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