U.S. stocks sold off sharply on Thursday, with shares of banks and travel companies pummeled, as large swings in the market continued due to uncertainty over the spread of the coronavirus and its economic fallout.
U.S. Federal Aviation Administration chief Stephen Dickson said on Thursday he thinks a certification test flight for the Boeing 737 MAX - a key milestone for the return of the grounded plane - could come soon.
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
Greycroft chairman Alan Patricof said he hasn't been actively trimming his personal stock positions during the market sell-off.
The model portfolio for the JPMorgan team is overweight small and mid-cap stocks and the value and cyclicals categories, according to a note.
Apparel retailer Gap Inc on Thursday named long-time executive Sonia Syngal as its new chief executive officer, nearly four months after the surprise exit of its then chief Art Peck.
U.S. financial companies are doubling down on travel restrictions to include domestic trips, replacing meetings with video calls, and webcasting events as the coronavirus outbreak starts to alter business-as-usual across the sector.
U.S. stocks tumbled on Thursday, with shares of banks and travel companies taking a beating, as a new wave of fear about the spread of the coronavirus and its economic impact gripped investors just one day after election results powered a rally.
Global equity markets tumbled and the dollar slid on Thursday as the coronavirus spread quickly outside China, leading Britain to prepare for a significant increase in cases and France to say it appeared "inevitable" the outbreak would become an epidemic in the country.
OPEC pushed on Thursday for a bigger-than-expected oil output cut to support prices that have been hit by the coronavirus outbreak, effectively presenting its non-OPEC partners with an ultimatum to back the move or face a price collapse.
JPMorgan Chase & Co said on Thursday that employees should forgo any non-essential domestic business travel in all of its worldwide locations, due to concerns about the quickly-spreading coronavirus, according to an internal memo seen by Reuters.
JPMorgan Chase & Co Chief Executive Jamie Dimon had emergency heart surgery to treat an aortic dissection on Thursday morning and is "recovering well," the bank said on Thursday.
The coronavirus likely halved China's economic growth in the current quarter compared with the previous three months, more severe than thought just three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.
President Donald Trump said on Thursday the U.S. economy might take a hit from the coronavirus outbreak but predicted the challenge would eventually pass and defended his handling of the crisis.
Asian shares fell on Friday following another Wall Street rout as disruptions to global business from the coronavirus beyond China worsened, stoking fears of a prolonged world economic slowdown.