Investors prepare for more market swings as virus spreads in the U.S.
With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead.
With one of Wall Street's wildest weeks in recent memory now in the history books, investors are bracing for more uncertainty and big market swings ahead.
United Airlines Co said late Saturday it would begin cutting flights to the United Kingdom after Washington expanded travel restrictions to Britain and Ireland, and Southwest Airlines moved toward flight cuts as the coronavirus outbreak sapped demand.
Apple Inc said it is closing all its retail stores, except those in Greater China, for the next two weeks to minimize the risk of coronavirus transmission, a move that was followed by several U.S. retailers on Saturday.
American Airlines Group Inc on Saturday said it will implement a phased suspension of nearly all long-haul international flights starting March 16, amid reduced demand and travel restrictions due to the ongoing coronavirus outbreak.
North Korea had its military forces on lockdown for about 30 days and in one instance did not fly a plane for 24 days, even though it has not confirmed any cases of coronavirus, the head of U.S. forces in South Korea said on Friday.
Bulgaria's foreign ministry on Friday banned all travel to Iran and advised Bulgarians to cancel all non-urgent travel to Spain and South Korea in a bid to curb the spread of coronavirus.
If the coronavirus crisis lasts another two or three months, it could force carriers to collapse and spark more consolidation in the beleaguered airline industry, the International Air Transport Association (IATA) chief told Reuters on Friday.
China's Wuhan city, ground zero of the new coronavirus outbreak, reported five new cases on Friday, the second day in a row the tally has been less than 10, while no locally transmitted infections were reported in the rest of the country.
Elon Musk is expected to defend a $2.2 billion deal in court next week criticized by shareholders as benefiting Musk at the expense of Tesla Inc, and the outcome may depend as much on the chief executive's temperament as on the facts of the case.
U.S. Federal Reserve policymakers have already begun responding to the coronavirus with an emergency interest rate cut and a reopening of their crisis tool kit, all without a clear idea of what damage is being done outside of plummeting financial markets.
World stocks bounced off their lows on Friday on hopes of more central bank stimulus and government spending, but were still set for their worst week since the 2008 financial crisis, with coronavirus panic-selling hitting nearly every asset class.
Economist Mohamed El-Erian told CNBC on Friday that he expects trading to Wall Street to remain "choppy" but he suggested that he may be starting to see a light at the end of the tunnel.
Treasury Secretary Mnuchin told CNBC the market sell-off will be short-lived and looks like a compelling investment opportunity.
The Starwood Capital founder told CNBC on Friday he expects the stock market to mount a fast recovery once the worst of the coronavirus outbreak is over.
Warren Buffett on Friday said the coronavirus pandemic forced him to cancel Berkshire Hathaway Inc's annual shareholder weekend, the largest gathering in corporate America, because the safety of participants and the wider community was paramount.