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Stocks fell sharply on Monday even after the Federal Reserve cut rates amid the coronavirus outbreak. The S&P 500 dropped 9.3% while the Dow Jones Industrial Average lost 2,174 points. The Nasdaq Composite traded 9.3% lower.
The situation with the oil price is getting worse as the price has now fallen below $30 as there is no longer much demand because of travel restrictions due to the coronavirus.
Currently, Google is working on a website devoted to COVID-19. Serving an informative function, the website will also remove fake information about the virus on YouTube, Google Maps, Google developer platforms, and across ads.
Apple (AAPL) stock price dropped by around 13% in the premarket and is falling in the trading session today as well. This is due to a fine of about $1.2 billion imposed by the French antitrust regulators.
Though a month ago TSLA stock was approaching $1000, today it is trading much lover. Its current price is below $500 in the premarket.
The coronavirus pandemic isn’t at all taking it easy on European markets as well as travel stocks. Both are seriously bleeding. People are panicking and waiting for signs of improvement.
NASA Marshall center claimed that they have the employee tested positive for the coronavirus. SPCE stock started falling in the premarket after a good Friday.
The story about hotels owned by Ronaldo turned out to be fake. But it has become known that LVMH will produce free hand sanitizer for French Hospital Authorities.
With the coronavirus being declared a global pandemic by the WHO, McKinsey predicts different scenarios as to how the global markets will react in the future.
Bitcoin price doesn’t look very optimistic now as it is below $5,000 again. However, just recently after the news about the rate cut from teh Fed, it was gaining massively.
Previously, the target range of the interest rate varied from 1% to 1.25%. Now the benchmark for both short-term lending for financial institutions and a peg to consumer rates will be targeted at 0% to 0.25%. Dow Futures lost 1,000 points.
Bitcoin and S&P 500 Price Index correlation proves that cryptos and stocks have one thing in common – the American retail investors and corporation bosses. This week is one of the most dangerous in the last 11 years, as the corporate and personal income melts amid coronavirus preparations.
Amazon’s signature Prime Delivery and Grocery delivery services are facing delays due to overwhelming demand from customers on account of the COVID-19 outbreak. The logistical challenges are mounting for the company. AMZN stock is in red after hours.
In a memo to employees, Amazon has confirmed the second coronavirus case and notified all employees who came in contact with the infected person. Amazon has allowed remote working from home for all its employees through the month of March.
Cristiano Ronaldo joins the fight against Covid-19 that has triggered a global health scare and jolted the global sporting calendar. All CR7 hotels are set to be converted into hospitals.