Downturns this deep can take a long time to recover from, financially and mentally April 16, 2020 | City Talk The stock market has declined by 25% or more on 11 occasions since 1871. The median recovery time from this point has been 1.8 years. Investors who shifted to cash after the 1929 crash faced a 34-year wait to break even, compared with 15 years for those who remained invested and less than 7 years [...]
Coronavirus: US consumer prices fall by largest amount in five years April 10, 2020 US consumer prices fell by the largest amount in five years in March due to the impact of coronavirus, with further decreases expected as the virus squeezes demand for goods and services. The US labor department said that the consumer price index dropped 0.4 per cent last month due to plummeting prices for petrol, hotels, [...]
Coronavirus: US stocks rise as Fed intervenes again April 9, 2020 US stocks have opened higher today after the US Federal Reserve committed an extra $2.3 trillion (£1.84 trillion) to shore up the struggling economy. The S&P 500 rose two per cent, the Dow Jones climbed nearly 2.1 per cent and the Nasdaq opened 0.9 per cent up. The rise means that the S&P 500 has [...]
Coronavirus shows the value of circuit breakers April 6, 2020 Market volatility is back with a vengeance. We’ve not seen this level of trading activity since 1987 and it has presented fresh challenges to global markets. Back in 1987, the trading infrastructure failed to cope, and the collapse of equities overwhelmed the trading communication systems of the time, which caused outages and left orders unfinished. [...]
Coronavirus: New York Stock Exchange to shift fully to online trading from 23 March March 18, 2020 The New York Stock Exchange (NYSE) will temporarily close its trading floors and move fully to electronic trading from Monday, its owner Intercontinental Exchange said after an employee and a trader were tested positive for the coronavirus. They were last in the exchange building on 13 March, the company said today. The facilities to be closed [...]
US stock markets suffer worst day since 1987 despite drastic Fed rate cut March 16, 2020 US stock markets suffered their biggest single day fall since 1987’s infamous Black Monday crash as investors shrugged off a dramatic Federal Reserve stimulus package that aimed to support the economy during the coronavirus outbreak. The US’s S&P 500 crashed 12 per cent over trading, the Dow Jones finished 12.9 per cent lower, and the [...]
US stocks fall for seventh consecutive day as coronavirus fears increase February 28, 2020 US stocks opened down again today for the seventh straight day as investors continued to sell after new cases of coronavirus pummelled global stock markets. The Dow Jones and the S&P 500 both fell 2.5 per cent, to 25,119.36 and 2,904.44 respectively. The Nasdaq fared marginally better, opening 1.9 per cent down at 8,402.67. The [...]
Alphabet drops out of trillion-dollar club amid coronavirus rout February 24, 2020 Google parent company Alphabet has dropped out of the prestigious trillion-dollar club after fears over the coronavirus outbreak prompted a wider global sell-off. Shares in Alphabet dropped almost four per cent in New York trading this afternoon, taking its market capitalisation to just below $980bn (£758bn). The fall came amid a wider decline across stock [...]
RCEP or CPTPP: Will Asia finally agree a trade deal? January 14, 2020 It is occasionally worth revisiting where Asia is with its expansive and highly complex trade negotiations, given that one can often get lost in the acronyms and fanfare of the latest set of talks. The first major attempt, an agreement with 11 signatories called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) or TPP11 — [...]
What do the financial markets hold in store for 2020? January 7, 2020 After the festive break, everyone in the City is slowly settling back into work. The opening week of 2020 has been hectic already, with oil and gold prices rising and stocks falling in reaction to tension in the Middle East. But what else are the financial experts and asset managers keeping an eye on for [...]