Shares of global and U.S. banks plummeted Monday after a collapse in oil prices sparked fears that financial institutions, already struggling with falling interest rates, could be in for trouble.
U.S. stocks fell hard Monday, pushing major indexes closer to bear-market territory as a price war for oil and coronavirus fallout frightened investors. The Dow fell around 2,000 points.
A broad swath of U.S. stock-market sectors are poised to enter a bear market, defined as a 20% drop from a recent high, after major European indexes suffered a similar fate.
Here are seven major companies whose stocks moved on this week’s news.
Albertsons, the nation’s second-largest supermarket operator, unveiled its paperwork to go public after more than a decade under management by Cerberus.
Cruise operator stocks have suffered a brutal start to the year, as travelers postpone voyages over fears of the coronavirus.
Market upheaval intensified as stocks and oil prices fell, while investors seeking shelter in haven assets pushed the yield on long-term U.S. government bonds to unprecedented levels.
Major stock indexes closed sharply lower, with the Dow industrials dropping 970 points, and bond yields fell, reflecting continued volatility in markets as investors around the world remain nervous about the economic fallout from the coronavirus epidemic.
The fallout from the coronavirus epidemic is threatening to weigh on advertising agencies and media companies’ operations as the disruption to the global economy from travel bans and quarantines spreads further afield.
U.S. stocks surged Wednesday as a strong Super Tuesday performance by former Vice President Joe Biden and growing signs of a coordinated response to the coronavirus reassured jittery investors.
The big winner of Super Tuesday was former Vice President Joe Biden, whose presidential campaign found new life. Investors in health-care stocks had a nice win as well.
Shares of global movie-theater chains AMC Entertainment Holdings Inc. and IMAX Corp. have declined in recent weeks as fear of the coronavirus has intensified.
Already among the worst performers in the market’s swoon over the past week, banks took a direct hit Tuesday after the U.S. central bank’s emergency interest-rate cut.
Ripples from the virus have sent energy stocks in the S&P 500 down significantly more than the broader index’s other groups, with a 7.4% drop in the past five sessions.
U.S. shares and government bond yields dropped sharply after the Federal Reserve’s interest-rate cut failed to assuage money managers fearful of the economic fallout from the coronavirus epidemic.
An outage that took down popular online brokerage Robinhood extended into a second day Tuesday, locking customers out of the markets on a wild trading day.
The Dow closed nearly 1,300 points higher while U.S. government bond yields hit new lows, with investors hoping central banks can stabilize markets and shield economic growth from the impact of the coronavirus.
The S&P 500’s technology sector is flying ahead of the broader market Monday, a sign of the group’s resilience after the worst Wall Street selloff since the financial crisis.
As governments world-wide continue to prepare for the public health fallout of coronavirus, investors said they are seeking companies that might find business helping to treat the epidemic.
U.S. stocks were at record levels just last week, seemingly unaffected by fears that the coronavirus could dent the global economy. Then reality took hold.