Dow slides into correction territory as stocks remain under pressure on coronavirus fears- Market Watch--2.27.20
Stocks have slipped into correction territory. Corrections are largely defined as a 10% fall from a recent peak and the S&P's six-day drop would market its fastest slide into correction territory since November 2008.
Goldman sees zero earnings growth for US companies this year because of coronavirus- CNBC--2.27.20
Goldman Sachs has revised its earnings estimate for the year to 0% growth in 2020. The reduced profit forecast reflects the likelihood that the coronavirus becomes widespread.
World battles virus epidemic as cases multiply outside China- AP--2.26.20
Worries over the economic fallout of the coronavirus multiplied as a growing list of national braced for the illness to breach their borders. The WHO has now reported that the number of new cases outside of China exceeded the number of new infections inside the country for the first time.
Dow, S&P surrender gains amid coronavirus frenzy as Nasdaq hangs on- Fox Business--2.26.20
Volatility is wreaking havoc for investors during the coronavirus health crisis. U.S. equity markets turned sharply lower on Wednesday while the Nasdaq suffered losses after the FDA warned that coronavirus is on a path to becoming a pandemic.
The stock market is plunging for a second day, with the Dow now down nearly 800 points Tuesday- CNBC--2.25.20
Stocks continue to fall on Tuesday as diving bond yields raised concerns that the global economy is slowing significantly. The 10-year Treasury yield hit a record low as the Dow plunges over 1,700 points in the last two days.
Markets bet Fed is pushed to cut rates in coronavirus response- Reuters--2.24.20
Financial markets are betting the Fed will be pressed to cut interest rates to cushion a feared hit to economic growth due to the spread of the coronavirus.
Dow plunges 1,000 points as coronavirus cases outside China jump- USA Today--2.24.20
Global markets were rattled on Monday after a significant rise in coronavirus cases outside of China spooked investors. The Dow plunged 1,000 points at one point, erasing its gains for the year.
Italy rushes to contain Europe’s first major virus outbreak- Reuters--2.23.20
Italy is scrambling to contain Europe's first major outbreak of coronavirus by calling off the popular Venice Carnival and cancelling major league soccer matches. Concern is also on the rise in neighboring Austria, which halted all rail traffic to and from Italy.
Dow drops 280 points, stocks head for losing week as coronavirus fears resurface- CNBC--2.21.20
Stocks fell sharply on Friday after the number of new coronavirus cases escalated. The spread of the new virus is already taking a toll on Chinese economy and some U.S. companies have also warned about possible revenue headwinds due to the virus.
White House Warns Beijing: 'We Still Expect You To Honor Your Trade Deal Commitments'- Zero Hedge--2.21.20
The Treasury Department is hinting that the U.S. expects the Chinese to honor their commitments under the "Phase 1" trade deal despite the economic impact of the coronavirus.
Goldman Sachs warns of stock market correction- CNN Business--2.20.20
Stocks continue to reach record highs and Goldman Sachs is concerned that it leaves investors vulnerable. The company told clients this week that a near-term correction "is looking much more probable."
U.S. stocks finish lower as coronavirus uncertainty sparks skittish trading- Market Watch--2.20.20
U.S. stocks finished sharply lower as investors remain uncertain about the impact of China's coronavirus epidemic. According to a report from South Korea, the infection claimed its first life in that country while the disease in South Korea has more than doubled.
"Glitch" Or Hack: Countless Fidelity Accounts Showing Zero Balance- Zero Hedge--2.19.20
Many clients of Fidelity brokerage are currently showing a zero balance either due to a glitch or perhaps a hack. This is concerning because if investors wish to sell their holdings during a downturn, this would be a convenient wat to quickly prevent that from happening.
Coronavirus: IMF chief says the outbreak is the ‘most pressing uncertainty’ for global economy- CNBC--2.19.20
IMF head Kristalina Georgieva said the coronavirus outbreak is the "most pressing uncertainty" for the global economy right now. The outbreak has already led multinational companies to warn investors about reduced demand and supply chain interruptions.
Apple’s COVID-19 warning shows virus is hitting the U.S. economy — and the damage isn’t done- Market Watch--2.18.20
The threat of the coronavirus outbreak in China is starting to spread and the U.S. economy is showing its first symptoms. Apple warned that sales in the current quarter could fall short of forecast due to production delays tied to the virus infection.
Outside of the big 5 tech companies, earnings growth is zero- CNBC--2.18.20
The stock market is hovering around all-time highs, but only 5 companies are contributing to the S&P 500's earnings growth, according to Goldman Sachs. Without those 5 stocks, the index's year-over-year earnings growth is flat.
The biggest financial risk that no one wants to talk about- Fox Business--2.14.20
The national debt now stands at over $23 trillion, including publicly held debt and intragovernmental debt. This is larger that the country's entire gross domestic product.
Valentine’s Day Spending Is Forecast to Rise 32%. Is More Love in the Air?- Barron's--2.14.20
According to the National Retail Federation, U.S. consumers will spend a record amount on Valentine's Day 2020. Total spending is expected to jump 32% compared with 2019.
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