Once bulletproof, tech stocks now among market’s biggest losers
Technology shares — a key engine of the stock market’s climb to records over the last several months — are now among those leading Wall Street’s plunge on growing concerns over the coronavirus outbreak.
Stocks, oil fall further on accelerating coronavirus concerns
Stocks and oil prices tumbled again on Tuesday and the benchmark U.S. debt yield hit a record low on growing concern about the effects of the spread of coronavirus on the global economy.
Walt Disney’s Iger steps down as CEO, parks head Chapek to take reins
Walt Disney Co’s Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek, the company said on Tuesday, ending years of speculation on who will take over Hollywood’s most powerful studio.
Virgin Galactic’s quarterly loss widens to $73 million
Billionaire Richard Branson’s space tourism company, Virgin Galactic Holdings Inc , said on Tuesday its fourth-quarter net loss widened to $73 million from a year-ago loss of $46 million as it reported its first results as a publicly traded company.
Oil falls for 3rd day as virus fears accelerate on U.S. warning
Crude prices fell about 3% on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus grew after the U.S. government warned Americans to prepare for the disease.
JPMorgan executives say bank is big enough to weather any storm
JPMorgan Chase & Co executives tried to reassure investors on Tuesday that the bank can thrive during times of market and economic stress, due to the sheer size and breadth of its global operations.
JPMorgan gets busy in repo lending after regulatory nod: CFO
JPMorgan Chase & Co is putting more cash into overnight lending markets and holding less for a rainy day, after discussing the matter with regulators, the bank’s finance chief said on Tuesday.
Tesla and U.S. regulators strongly criticized over role of Autopilot in crash
The National Transportation Safety Board on Tuesday sharply criticized Tesla Inc.’s lack of system safeguards in a fatal 2018 Autopilot crash in California and called U.S. regulators’ approach in overseeing the driver assistance systems “misguided.”
Fed’s Clarida: We are ‘closely monitoring’ impact of coronavirus
The Federal Reserve is “closely monitoring” the escalating coronavirus outbreak but it is still too soon to gauge if it would require a change in monetary policy, Fed Vice Chair Richard Clarida said on Tuesday as the central bank continues to patiently…
Three U.S. Senate Democrats propose sweeping reforms after Boeing 737 MAX crashes
Three Democratic U.S. senators on Tuesday introduced sweeping legislation to reform how new airplanes are certified and overseen by U.S. regulators after two fatal Boeing 737 MAX crashes killed 346 people.
