Dow Futures are showing a sharp recovery after Monday’s bloodbath as U.S. President Donald Trump assures supporting industries amid this ongoing COVID-19 outbreak that has disrupted the global economy.
The stocks of JPMorgan and Citi are falling, showing a decrease of 17.71% and 19.27% (at opening) accordingly. The situation gave birth to fears regarding banks and coronavirus.
American Airlines stock has crashed after the company announced a 75% reduction in capacity because of the coronavirus. Analysts warn things could get worse.
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.
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.
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.
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.
The Tesla (TSLA) stock price has crashed 45% from its 2020-high in less than a month’s time. Morgan Stanley has reduced the target for the Tesla stock and global economic concerns weigh in.
Apple and Microsoft have lost around $400 billion each during the latest market sell-off over the last month. Analysts weigh in suggesting Microsoft a better buy over Apple at this stage.
As the whole markets come crashing down, Tesla stock price tanked 11.62% on Tuesday closing at $560 levels. With the Tesla production taking a massive hit, analysts are slashing the target for its stock price.
The Fed has taken a decision to issue over 1 trillion dollars during coronavirus attack citing the necessity of market support. However, some critics say that the market is doomed, both on traditional and cryptocurrency levels.
After the emergency travel ban that was imposed by President Donald Trump on most European countries, the airlines stocks have plunged nearly 10%-15%.
Uber (UBER) stock price is at $23.54 which is a 10.29% decline since trading started. Lyft (LYFT) stock price is at $25.29. This is an 12.82% decline since trading hours began as well.