Traders work at the New York Stock Exchange in New York, the United States, on Jan. 8, 2020. Xinhua News Agency Stock investors just experienced one of the nastiest weeks in history that recorded the S&P 500‘s fastest correction on record, but hold on tight, the market might have more room to fall as the
Finance
A CDC worker marks the tube after collecting biomaterial from a suspected 2019-nCoV patient for nucleic acid tests in a hotel for isolated people in Wuhan in central China’s Hubei province Tuesday, Feb. 04, 2020. Barcroft Media | Getty Images China‘s Center for Disease Control and Prevention has such low status in the country that
Shoppers walk through the Easton Town Center Mall in Columbus, Ohio. Luke Sharrett | Bloomberg | Getty Images Check out the companies making headlines after the bell. Beyond Meat — The meat substitute maker’s stock plunged 8% in extended trading after the company reported a fiscal fourth-quarter net loss of $0.5 million, or 1 cent
A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Goldman Sachs is asking attendees for a conference scheduled to be held by the investment bank next week to skip the event if they’ve recently traveled to countries worst hit by
Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020. Nicolas Asfouri | AFP | Getty Images Earnings growth for U.S. companies will be stagnant in 2020 as a result of the coronavirus, according to Goldman Sachs. The Wall Street firm
Senator Pat Toomey Cameron Costa | CNBC Sen. Patrick Toomey said he will support the nomination of Judy Shelton to the Federal Reserve, removing a key obstacle to her confirmation. The Pennsylvania Republican said Wednesday he received assurance that Shelton does not favor devaluing the dollar to combat lower currencies in other countries. During a
Jeffrey Gundlach, DoubleLine Capital CEO and Wall Street “bond king,” is pointing the finger at Democratic presidential hopeful Bernie Sanders for the market’s tumultuous rout this week. “If this stock market reversal is due exclusively to the virus, then why is United Healthcare down far more than SPX?” Gundlach wrote in an email to CNBC’s
The coronavirus outbreak is sparking extreme demand for market protection, according to XFA’s Bill Looney. Looney, who runs the firm’s global business development, finds options traders are placing call strikes on the Cboe Volatility Index at a fever pitch as new virus cases surge. “The VIX alone trades forward implied volatility. So, when you buy deep out-of-the money
Mastercard President and CEO Ajay Banga told CNBC Tuesday that he has led the company for more than a decade and that it is time to pass the baton. He will transition out of the roles next year, ceding the chief executive seat on Jan. 1 and the president title months later to current Chief Product
Federal Reserve officials see the coronavirus as a significant threat to growth, but the extent of that is not known yet, Vice Chairman Richard Clarida said Tuesday. Stocks have sold off aggressively on fear that the COVID-9 virus will slow the Chinese economy, which could have ripple effects across the global supply chain. Markets widely