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.
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.
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.
The model portfolio for the JPMorgan team is overweight small and mid-cap stocks and the value and cyclicals categories, according to a note.
Greycroft chairman Alan Patricof said he hasn't been actively trimming his personal stock positions during the market sell-off.
Airlines have been suspending flights or modifying services in response to the coronavirus outbreak.
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.
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.
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. stocks sold off sharply on Thursday, with shares of travel companies pummeled, as large swings in the market continued amid uncertainty over the spread of the coronavirus and its economic fallout.
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 appeared "inevitable" the outbreak would become an epidemic.
Market volatility related to the coronavirus has provided a welcome boost for Wall Street banks' trading businesses, helping to offset the much-bigger drag of lower interest rates on lending profits, analysts said.
The drop-off in air travel demand following the spread of coronavirus cases feels more driven by fear than economics, similar to 9/11, Southwest Airlines Co Chief Executive Gary Kelly told CNBC on Thursday.
Southwest Airlines Co said on Thursday it expected a hit of up to $300 million to its first-quarter operating revenue from the new coronavirus outbreak, prompting it to cut its quarterly revenue outlook.
OPEC ministers said on Thursday they would recommend to OPEC+, a group that includes Russia, that additional oil production cuts of 1.5 million barrels per day (bpd) run until the end of 2020 rather than just during the second quarter.