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.
U.S. stocks extended a punishing selloff, dragged to their worst week since the financial crisis by mounting investor unease about the economic fallout from the coronavirus epidemic.
Here are seven major companies whose stocks moved on this week’s news.
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.
This past week investors found havens in a peanut butter and bleach, but rebuffed restaurants and concert venues.
Stocks, bond yields and oil prices slid as investors braced for a drop in business activity and corporate earnings following the spread of the coronavirus. The Dow, Nasdaq and S&P 500 are now all more than 10% off their recent highs.
Mind Medicine Inc., maker of an experimental psychedelics-derived drug therapy backed by Shark Tank’s Kevin O’Leary, closed a $24.2 million funding round ahead of plans to go public next week.
Growing fears about the coronavirus have sent global stocks diving in February. But some regions have held up better than others. An exchange-traded fund tracking shares in mainland China has raced past its counterparts in much of the world.
The pan-continental Stoxx Europe 600, the German DAX and London’s FTSE 100 entered correction territory, as investors tried to gauge the impact of the coronavirus’s spread just a week after stocks touched record highs.
U.S. stocks closed lower as investors continued to assess the impact of the coronavirus epidemic and its economic fallout.
European carriers’ shares were on track for their biggest weekly declines in years, as investors feared they could be hurt more severely by falling oil prices than their U.S. counterparts.
The Dow industrials closed nearly 900 points lower and the 10-year Treasury yield hit a new low as fears about the economic impact of the coronavirus epidemic kept investors on edge.
The U.S. may have so far avoided the worst impacts of the virus. But for companies with major operations abroad, the calculus is changing quickly.
Investors around the world stepped up their retreat from stocks and piled into haven assets like government bonds and gold, reflecting escalating worries that the coronavirus will crimp global growth.
Here are seven major companies whose stocks moved on the week’s news.
The Swiss franc has climbed to its highest level against the euro in more than four years, leaving the central bank with a dilemma: Do nothing and potentially damage the economy, or intervene and risk angering the U.S.
Investors dumped stocks and flocked to traditionally safer assets like gold and government bonds this week as worries grew that the coronavirus epidemic would crimp global growth.
The tug of war across financial markets shows just how divided the outlook among investors is as they struggle to assess the economic toll of the coronavirus epidemic.
The stock market set records again this week, but investors faced new concerns as well.
U.S. stocks declined as conflicting signals about the containment of the coronavirus outbreak and its potential economic impact subdued investor sentiment.