Recession fears put Dow on course to erase ‘Trump-bump’
Wall Street’s four-week slump deepened and the Dow Jones Industrials was set to surrender all its “Trump-bump” gains on Wednesday, as the coronavirus pandemic threatened to bring the U.S. economic activity to a grinding halt.
Zara owner offers to make scrubs for Spain’s coronavirus-stretched hospitals
Zara owner Inditex, whose polka dot dress was a high-street sensation in 2019, may soon be stitching hospital scrubs, helping its home country Spain fight the coronavirus epidemic, the company said on Wednesday.
U.S. oil plunges to 18-year low as lockdowns trigger market meltdown
Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low, as governments worldwide accelerated lockdowns to counter the coronavirus pandemic.
Detroit automakers agree to UAW request to shutter U.S. plants
The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said.
Factbox: Carmakers suspend European production in face of coronavirus crisis
Automakers are halting production at plants across Europe as they grapple with coronavirus and diving demand.
Detroit automakers agree to UAW request to shutter U.S. plants: source
The Detroit Three automakers have agreed to shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, a person familiar with the matter said on Wednes…
France to consult Dutch over Air France support: finance minister
The French government will consult with its Dutch counterpart before making any decision over support for Air France, the French subsidiary of Air France-KLM , Finance Minister Bruno Le Maire said on Wednesday.
Tesla’s California factory operating despite virus lockdown order: witnesses
Tesla Inc’s vehicle factory in California appeared to be operating normally on Wednesday despite an order by local officials to comply with a three-week lockdown in the San Francisco Bay Area to rein in the spread of coronavirus.
Wall Street pounded as trading resumes
The S&P 500 index fell on Wednesday when trading resumed after an initial automatic 15-minute cutout, as investors priced in a complete breakdown in business activity and consumer spending from the coronavirus pandemic.
Markets tumble as scale of stimulus programs numbs investors
Global equities tumbled further on Wednesday, with bond and gold prices also sliding in an unusual tandem, as markets grappled with the scale of government programs aimed at softening the economic shockwave from the coronavirus.
