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Updated: 4 years 29 weeks ago
Wall Street's major stock indexes plunge as coronavirus anxiety grows
The U.S. benchmark S&P 500 stock index fell more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus sent investors running from even the most defensive equities.
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Wall Street's major indexes slammed as virus anxiety grows
The key S&P 500 index was down more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus and heightened nerves over the upcoming earnings reporting season sent investors running from even the most defensive equities.
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Trump invites oil CEOs to discuss help for ailing industry: source
U.S. President Donald Trump has invited oil executives to the White House to discuss potential aid for the industry as the coronavirus pandemic spurs a historic slump in energy prices, a source familiar with the matter said on Wednesday.
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Putin calls for action on 'challenging' energy market, Trump laments cheap oil
Russian President Vladimir Putin called on Wednesday for global oil producers and consumers to address "challenging" oil markets while U.S. President Donald Trump complained that oil cheaper "than water" was hurting the industry.
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U.S. shale company Whiting becomes first major bankruptcy of oil-price crash
Whiting Petroleum Corp filed for Chapter 11 bankruptcy, the U.S. shale producer said on Wednesday, the first publicly traded casualty of crashing crude oil prices that are expected to bite into record U.S. output.
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Fed's Rosengren says unemployment rate could 'rise dramatically'
Boston Federal Reserve Bank President Eric Rosengren said social distancing efforts meant to contain the coronavirus outbreak have "stilled" the economy and could lead the unemployment rate to "rise dramatically."
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Oil falls after U.S. crude stockpiles jump and gasoline demand slumps
Oil prices fell on Wednesday after data showed U.S. crude inventories rose last week by the most since 2016 while gasoline demand suffered its biggest weekly drop ever due to the coronavirus pandemic.
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U.S. dollar rises as global slump looms
The dollar advanced on Wednesday, with markets staring at what looked likely to be one of the worst economic contractions in decades as the world confronts the coronavirus pandemic.
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Insurers fret as company bosses face coronavirus legal claims
Insurers are increasingly worried about shareholders, employees or customers bringing coronavirus-related claims against company executives and are considering excluding the virus from policies which protect the bosses, industry sources say.
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T-Mobile completes merger with Sprint
T-Mobile US Inc said on Wednesday it officially completed the $23 billion merger with Sprint Corp, solidifying its position as the No.3 wireless providers in the United States.
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Whiting files for Chapter 11 bankruptcy as oil prices hover at $20
Shale producer Whiting Petroleum Corp said on Wednesday it filed for Chapter 11 bankruptcy, the first major casualty of a free fall in crude prices to $20 a barrel.
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Amazon warehouse workers protest near Detroit
Amazon.com Inc on Wednesday said a handful of workers staged a demonstration at one of its warehouses near Detroit, reflecting the ongoing concerns among its staff about contracting the coronavirus on the job.
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Dow starts second quarter with 900-point slide as virus anxiety grows
The Dow Jones Industrial Average fell more than 900 points on Wednesday as a plunge in new orders for U.S.-made goods and a dire warning on U.S. death toll from the coronavirus pushed investors away from stocks to safer assets.
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EU industry chief sees no quid pro quo in Huawei's 'mask diplomacy'
EU industry chief Thierry Breton on Wednesday said he did not see any ulterior motive behind Huawei's donations of face masks to the bloc and that solidarity was the best way to tackle the global coronavirus outbreak.
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Zoom takes lead over Microsoft Teams as virus keeps Americans at home: Apptopia
Zoom Video Communications Inc's average mobile user numbers in March were nearly three times that of its nearest rival Microsoft Corp's Teams, according to research firm Apptopia, as the cornonavirus-driven stay-at-home lifted demand for video conferencing applications.
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Explainer: Euro zone eyes package to support economy against coronavirus
With the euro zone economy in need of help from the coronavirus pandemic, officials have until April 9 to design a package that satisfies members with completely opposing views: those calling for joint debt issuance and those fiercely against it.
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Exclusive: Fiat Chrysler, GM try discounts, online buying to lift plunging U.S. sales
With auto showrooms shut during the coronavirus pandemic, Fiat Chrysler and General Motors Co moved to reboot demand with seven-year, no-interest loans and programs allowing customers to buy vehicles online.
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Democrats urge U.S. Treasury not to delay $25 billion in grants to airlines
U.S. House Speaker Nancy Pelosi urged the U.S. Treasury on Wednesday not to hold up $25 billion in cash grants approved by Congress last week to airlines for payroll costs.
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Dow falls 600 points to start second quarter as virus anxiety grows
The Dow Jones fell 600 points on Wednesday as investors fled to safe-haven assets after new orders for U.S.-made goods plunged to an 11-year low and the White House issued a dire warning on the U.S. death toll from the coronavirus pandemic.
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Factory activity plunges as coronavirus shock deepens
Factories fell quiet across much of the world in March as the coronavirus pandemic paralyzed economic activity, with evidence mounting that the world is sliding into deep recession.
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