The Citibank Corporate Office & Headquarters is viewed in midtown Manhattan. Kevin Winter | Getty Images This is a breaking news story. Please check back for updates. An employee from Citigroup’s Manhattan office tested positive for the coronavirus, the Wall Street firm said Friday. The employee was diagnosed in Singapore on Friday while on personal travel.
Finance
A chef prepares a food delivery order at Wangfujing Quanjude restaurant on March 5, 2020 in Beijing, China. Zhao Jun | China News Service | Getty Images BEIJING — In an indication of how deep the economic shock of the new coronavirus is, many of China‘s hardest-hit businesses are still struggling because their workers haven’t returned.
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a
Mario Tama | Getty Images News In these difficult, confusing and, at times, scary days, it’s easy to get turned around in the market. Though we’ve never seen anything like the health scare that’s happening real time right now, we have seen financial markets deal with massive unknowns and take hits in the last twenty
A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. Jason Lee | Reuters BEIJING — China‘s central bank is expected to cut key rates soon, following a directive from
If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
A worker is seen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Brendan McDermid | Reuters Check out the companies making headlines in midday trading. Apache Corp. – Shares of the exploration and production company slid more than 18% on the back of declining oil prices. Apache
A cleaner walks past a Microsoft office building in Beijing. Greg Baker | AFP | Getty Images As growth slows in the world’s second-largest economy, U.S. companies are looking for more reasons why they should stay and invest more. Many members of the Beijing-based American Chamber of Commerce in China said they are earning less
Traders work at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images U.S. stock futures fell sharply on Tuesday night, pointing to another volatile session on Wall Street following a massive rally. Around 7:40 p.m. ET, Dow Jones Industrial Average futures were down about 366 points, indicating a loss of more than
Source: Stitch Fix Check out the companies making headlines in midday trading. Stitch Fix — Shares of Stitch Fix plummeted nearly 30% after the personal styling service issued a bleak outlook and reported quarterly revenue that missed analysts’ expectations. Stitch Fix reported sales of $451.8 million, below the forecast $452.5 million, according to Refinitiv. Its next