US stocks sell-off triggers trading pause amid coronavirus panic March 9, 2020 US stock markets plunged after Wall Street opened as the spread of coronavirus around the world and the steepest drop in oil prices since the 1990s panicked investors. The dramatic falls of more than seven per cent were so big they triggered an automatic cutout system put in place after the financial crisis, pausing trading [...]
NY Fed increases short-term funding as US stocks brace for open March 9, 2020 The Federal Reserve Bank of New York has ramped up the amount of money it provides in very short-term loans to the financial system in a bid to keep Wall Street steady amid a coronavirus-driven market rout. The NY Fed today said daily overnight repurchase agreement (repo) operations will increase to $150bn (£115bn) from $100bn. [...]
Oil prices: FTSE energy stocks tumble after Opec coronavirus chaos March 9, 2020 FTSE 100-listed energy stocks have crumbled in early trading after Saudi Arabia initiated a price war that saw oil prices collapse today. Shell’s share price plummeted 21 per cent before trimming losses to stand down 14.8 per cent by 9.50am, while BP’s tumbled 17.3 per cent to 326.9p. Petrofac fell over 50 per cent to [...]
Oil prices and Asian stocks collapse under coronavirus fears March 9, 2020 Oil prices and stocks collapsed today as investors piled into safe havens in a bid to escape the fallout of a fresh spread of coronavirus. Oil prices plunged around 30 per cent after Saudi Arabia signalled its intention to ramp up production. And investors knocked 30-year US bond yields below one per cent as they [...]
Saudi Arabia to up oil production after Opec deal falls through March 8, 2020 The Middle East’s stock markets tumbled on Sunday after the three year alliance between oil cartel Opec and Russia collapsed last week. As a result of the botched negotiations over further production cuts, Opec removed all existing output curbs for its members, leading to a string of local equity markets falling over fears of a [...]
Neil Woodford in talks with investors as he plots comeback March 7, 2020 Neil Woodford and a number of colleagues from Woodford Investment Management (WIM) are in talks with investors about snapping up a number of the fallen fund manager’s old investments. Woodford has held talks with institutional and wealth managers in recent weeks about creating a vehicle to buy back some of the unquoted WIM stakes, according [...]
Oil prices tumble 10 per cent as Russia rejects Opec deal March 7, 2020 Oil prices plummeted by around 10 per cent on Friday as a proposal to reduce output by major producers collapsed. With global demand slowing due to the coronavirus’s impact on travel, manufacturing and supply chains, the plan had intended to keep prices steady. But Russia decline to participate and talks ended with there being no [...]
Coronavirus fear returns to Wall Street as global markets slide March 7, 2020 The US stock market followed the suit of other global markets by plunging further on Friday as coronavirus fears continued to grip investors. The Dow Jones fell by one per cent, or 256 points, to finish the week on 25,865 points. Meanwhile, other major indices, the S&P 500 and the Nasdaq, saw losses of 1.7 [...]
Coronavirus crisis wipes £59bn off FTSE 100 March 6, 2020 Coronavirus wiped £59bn off the FTSE 100 today to cap off another week of stock market turmoil. The blue-chip stock index sank by 3.6 per cent, or 242.88 points, to finish the week on 6,462.55 points – its lowest since July 2016. Meanwhile, the FTSE 250 was down 2.98 per cent, or 576.62 points to [...]
US posts strong jobs data but analysts say coronavirus means report ‘outdated before it came out’ March 6, 2020 The US posted strong jobs data for February today but markets remained in the red on fears of the impact of coronavirus on the world economy. Total nonfarm payroll employment rose by 273,000 in February, and the unemployment rate was little changed at 3.5 per cent, the US Bureau of Labor Statistics said today. The [...]