The dollar fell broadly on Tuesday after the U.S. Federal Reserve on Monday committed to buy an unlimited amount of bonds and as investors were optimistic the American government would pass a stimulus package to offset the economic impact of the coronavirus pandemic.
Wild swings in asset prices have thrown a spotlight on liquidity in corners of the $4.4 trillion market for U.S. exchange-traded funds, which have played a key role for investors in Wall Street's coronavirus-fueled sell-off.
Citigroup Inc will temporarily close up to 15% of its U.S. branches in light of reduced foot traffic amid the coronavirus outbreak, a spokesman told Reuters.
Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed to help combat the spread of the coronavirus under a partnership code-named "Project Apollo."
Oil rose over 3% on Tuesday after the U.S. Federal Reserve said it would take steps to bolster the economy and on growing hopes the United States will soon reach a deal on a $2 trillion coronavirus economic package.
Oilfield services firm Halliburton is accelerating its cost-cutting and will significantly reduce spending this year below its original $1.2 billion budget, its finance chief said on Tuesday.
The healthcare unit of French industrial gases company Air Liquide said on Tuesday it was ramping up production of ventilators needed by hospitals to deal with the coronavirus outbreak.
Sales of new U.S. single-family homes fell in February after surging in the prior month, and could decline further because of the coronavirus pandemic which is boosting unemployment and severely disrupting economic activity.
Chevron Corp cut its capital spending budget by $4 billion on Tuesday, leading a wave of cost-cutting announcements across the reeling oil-and-gas industry as the coronavirus pandemic has slashed demand and triggered a dramatic slide in oil prices.
The U.S. Federal Reserve's efforts to shield the economy from the effects of the coronavirus have -- for now - slowed a scramble for dollars that threatened to clog funding markets.
The coronavirus pandemic is straining the U.S. economy. Here's where Americans can look for fast cash in an emergency.
Boeing Co Chief Executive Dave Calhoun said on Tuesday he does not want the U.S. Treasury to take an equity stake in the planemaker as a condition of government loans as credit markets freeze amid the coronavirus pandemic.
British finance minister Rishi Sunak said he expects to make an announcement soon on discussions over a support package for the airlines industry, which has been devastated by travel restrictions, to limit the spread of coronavirus.
Boeing Chief Executive Dave Calhoun said Tuesday the company still expects a "mid-year" return to service for the grounded 737 MAX and said the company needs to know credit markets remain open to the aerospace manufacturing sector.
Consumer goods giant Unilever Plc said on Tuesday it would protect its workforce from the financial impact of the coronavirus by continuing to pay contractors and other part time staff for up to three months.