How The Coronavirus Could Affect The Stock Market And Economy
4 years, 10 months ago

How The Coronavirus Could Affect The Stock Market And Economy

Huff Post  

LOADING ERROR LOADING The stock market took another major hit Monday as fears grow over how the coronavirus might wreak long-term economic havoc. “The Federal Open Market Committee has delivered monetary policy medicine investors were looking for to address concerns about the widening economic impacts related to the coronavirus outbreak,” said Mark Hamrick, senior economic analyst for Bankrate, in a statement. “Investors are understandably worried that maybe now we will get that recession so many have been worried about.” - Jurrien Timmer, director of global macro for Fidelity Management & Research Company “While coronavirus is certainly a serious global health issue, as of this moment, it has not had a significant negative impact on the U.S. economy,” said Robert R. Johnson, a professor of finance at Creighton University. “After an 11-year expansion and a fivefold increase in the stock market, investors are understandably worried that maybe now we will get that recession so many have been worried about,” said Jurrien Timmer, director of global macro for Fidelity Management & Research Company. “What I do think could happen, however, is that this double-whammy of a demand and supply shock could trigger a technical recession ― a quarter or two of negative GDP growth and negative earnings growth ― but that doesn’t have the trappings of a typical recession in which there are many layoffs and tightening financial conditions.” Rahman added that other effects from the virus are highly uncertain.

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Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz
2 years, 2 months ago

Impending economic crisis will dwarf coronavirus crisis, says credit insurer Allianz

NL Times  

The looming economic crisis will make the coronavirus crisis look like nothing, according to credit insurer Allianz Trade. Rarely have so many negative facts come together simultaneously,” Johan Geeroms, director of risk underwriting in the Benelux for Allianz, said in a press statement. And, partly due to the 10 percent increase in the minimum wage the government announced for next …

Economic impact of coronavirus will hit next year, experts say
4 years, 1 month ago

Economic impact of coronavirus will hit next year, experts say

Dutch News  

Despite the slight drop in the unemployment rate this week, and signs of a speedier economic recovery from the coronavirus crisis, the big hit will be felt in the second quarter of next year, according to experts. In total, 102 banking, legal and investment experts took part in a survey on the likely impact of the crisis carried out by …

Global economic bailout is running at $19.5 trillion. It will go higher
4 years, 1 month ago

Global economic bailout is running at $19.5 trillion. It will go higher

CNN  

London CNN Business — Governments and central banks have promised to shell out $19.5 trillion since the coronavirus erupted to “put a floor under the world economy,” according to the International Monetary Fund. While coronavirus vaccine candidates point to improved prospects for the global economy next year, they won’t help countries much in the immediate future. In the United States, …

Stocks week ahead: The economic recovery hangs in the balance as winter approaches
4 years, 3 months ago

Stocks week ahead: The economic recovery hangs in the balance as winter approaches

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. The UK government isn’t ruling out another national lockdown, though the health secretary has said it would be “the last line of defense.” Such measures would be the worst-case scenario for economies experiencing a historic expansion following a record contraction. Just take it from Federal Reserve …

World economy: What else could go wrong before 2020 is done
4 years, 4 months ago

World economy: What else could go wrong before 2020 is done

Live Mint  

The world economy’s rebound from the depths of the coronavirus crisis is fading, setting up an uncertain finish to the year. Adding 1.4 million jobs in August was “a big step in the right direction,” said Ryan Sweet, head of monetary policy research at Moody’s Analytics. But the economy needs to maintain that kind of pace, he said, and “without …

Fed chief says coronavirus surge starting to dent U.S. economic recovery
4 years, 5 months ago

Fed chief says coronavirus surge starting to dent U.S. economic recovery

The Hindu  

The surge in U.S. coronavirus cases and the restrictions aimed at containing it have begun to weigh on the economic recovery, the head of the Federal Reserve said on Wednesday, pointing to an apparent pullback by consumers and a slowdown in the rehiring of furloughed workers, particularly by small businesses. “We have seen some signs in recent weeks that the …

Why the coronavirus crisis is another cruel economic setback for millennials
4 years, 6 months ago

Why the coronavirus crisis is another cruel economic setback for millennials

LA Times  

Nick Andersen packed up his life in Charleston, S.C., and headed south for a new job and a new start. For the last 50 years, politics ended up protecting the privileges enjoyed by “insiders.” “It’s the young who have borne the brunt of that, even before this current crisis.” Low-wage scars Definitions vary, but Pew Research considers anyone born between …

Wall Street dips as virus fears drown out economy hopes
4 years, 6 months ago

Wall Street dips as virus fears drown out economy hopes

Associated Press  

NEW YORK — Wall Street careened through all the forces that have pushed and pulled it through the week, at first rising on Friday amid hope for the economy and then falling on worries about worsening coronavirus levels in some states, all before ending with modest losses. Also exacerbating volatility was Friday’s simultaneous expiration of contracts for stock options and …

Stock market plunge: Dow plunges 1,000 points on fears of coronavirus second wave
4 years, 6 months ago

Stock market plunge: Dow plunges 1,000 points on fears of coronavirus second wave

CNN  

New York CNN Business — The runaway train on Wall Street has been derailed by a force nearly as powerful as easy money: a healthy dose of reality. “The rally in the stock market from the March 23 lows was simply overdone,” said David Kelly, chief global market strategist at JPMorgan Funds. “Mass unemployment is going to be the primary …

The coronavirus recession is like no other — and it risks becoming a chronic problem
4 years, 7 months ago

The coronavirus recession is like no other — and it risks becoming a chronic problem

ABC  

Forget what you know about recessions, this one is very different — and it may be chronic. That's not to say we're about to experience years of economic contraction or "negative growth" as economists like to say, but it's going to remain tough going for many Australians for years. This is the combination of two overbearing forces: an economy built …

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank
4 years, 7 months ago

Coronavirus Will Leave Lasting Scars On Global Economy; Emerging Markets & Developing Economies To Be Worst Hit: World Bank

ABP News  

New Delhi: The World Bank has said that the Coronavirus pandemic and strict lockdown measures taken to contain its transmission will leave a lasting effect on the global economy particularly the emerging market and developing economies, in its analysis of the situation. World Bank Group President David Malpass emphasised the need for comprehensive policies and indicated that 60 million people …

Crushing the coronavirus uncertainty will be the big 'unlock' for economies: Report
4 years, 7 months ago

Crushing the coronavirus uncertainty will be the big 'unlock' for economies: Report

India TV News  

Crushing the coronavirus uncertainty will be the big 'unlock' for economies around the world and to safeguard lives and livelihoods, restoring confidence is a must, according to a report by McKinsey & Co. "The objective now must be to crush uncertainty as soon as possible. As we have seen in previous crises,when uncertainty subsides, confidence returns and economic recovery unlocks …

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan
4 years, 7 months ago

Govt measures to deal with coronavirus impact 'very positive', says former RBI governor Bimal Jalan

Firstpost  

Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as “very positive” and hoped that these would help in containing the decline in growth New Delhi: Former Reserve Bank Governor Bimal Jalan on Thursday described the initiatives taken by the government to mitigate the impact of COVID-19 as …

Economic hit from coronavirus will be limited, NDRC head says
4 years, 7 months ago

Economic hit from coronavirus will be limited, NDRC head says

China Daily  

He Lifeng, head of the National Development and Reform Commission is interviewed via video link after the opening of the third session of the 13th National People's Congress at the Great Hall of the People in Beijing, capital of China, May 22, 2020. China has the ability to cope with the various risks and challenges amid the COVID-19 outbreak, and …

Trump's economic advisers keep trying to downplay expectations for post-coronavirus economy: columnist
4 years, 7 months ago

Trump's economic advisers keep trying to downplay expectations for post-coronavirus economy: columnist

Raw Story  

President Donald Trump has promised that the stock market will surge even bigger and better than ever, but his staff is trying to downplay the predictions to manage expectations. But we’re still very, very — we’re doing great.” A Washington Post column by The Fix's JM Rieger cited an interview with Trump's trade adviser Peter Navarro who spoke to ABC. …

US economy won’t recover fully until there’s a coronavirus vaccine, says Federal Reserve chairman
4 years, 7 months ago

US economy won’t recover fully until there’s a coronavirus vaccine, says Federal Reserve chairman

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chairman of the …

UK facing significant recession due to coronavirus pandemic, says Rishi Sunak
4 years, 7 months ago

UK facing significant recession due to coronavirus pandemic, says Rishi Sunak

India TV News  

The UK faces a "significant recession", Chancellor of the Exchequer Rishi Sunak has warned after figures showed the country's economy shrank by 2 per cent in the first three months of the year due to the impact of the coronavirus-induced economic lockdown. The UK’s Indian-origin finance minister, who is at the forefront of the economic response to the coronavirus pandemic …

UK economy heading for worst crash in 300 years due to coronavirus
4 years, 8 months ago

UK economy heading for worst crash in 300 years due to coronavirus

CNN  

London CNN Business — The UK economy is heading for its worst crash in more than 300 years because of the coronavirus pandemic, according to a new forecast from the Bank of England. The central bank expects a swift economic recovery in 2021, but it cautioned that its forecast, which assumes a gradual easing of social distancing measures and “very …

Coronavirus recovery is just around the corner — if the stock market can be believed
4 years, 8 months ago

Coronavirus recovery is just around the corner — if the stock market can be believed

ABC  

No-one has a crystal ball. The experts don't always get it right, but the main Australian stock market index right now is much higher than it was back in March, when the shock of coronavirus hit households across the country. However, when you consider the Centrelink queues, Treasury's forecast of an unemployment rate reaching 10 per cent, talk of Depression-like …

Can the US economy recover from coronavirus?
4 years, 8 months ago

Can the US economy recover from coronavirus?

Al Jazeera  

As the pandemic spreads in the US, the country’s economy is likely to face its worst crisis since the Great Depression. It shrank by almost 5 percent in the first quarter of this year – the biggest slide since the 2008 financial crisis. As many businesses are going bankrupt, the US has pumped more than $2 trillion into the economy …

Coronavirus Outbreak: US economy shrinks at 4.8% in January-March quarter, first-time in six years; recession fear looms
4 years, 8 months ago

Coronavirus Outbreak: US economy shrinks at 4.8% in January-March quarter, first-time in six years; recession fear looms

Firstpost  

The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record Washington: The US economy shrank at a 4.8 percent annual rate last quarter as the coronavirus pandemic shut down much of the country and began …

Recession sign: US economy shrinks 4.8 percent in first quarter
4 years, 8 months ago

Recession sign: US economy shrinks 4.8 percent in first quarter

Al Jazeera  

The plunge in first-quarter US GDP will likely pale in comparison to second quarter damage from coronavirus lockdowns. We knew the United States economy had likely taken a significant hit in the first three months of this year as coronavirus lockdowns started sweeping the nation in March. US economic growth as measured by gross domestic product contracted 4.8 percent on …

US GDP drops 4.8% as coronavirus impact hits hard: Live updates
4 years, 8 months ago

US GDP drops 4.8% as coronavirus impact hits hard: Live updates

Al Jazeera  

It is the sharpest decline since the Great Recession, an abrupt end to the longest economic expansion in US’s history. 09:30 GMT – Spain’s daily toll slightly up with 325 new deaths Spain recorded 325 deaths from the novel coronavirus overnight, up from 301 reported the previous day, the health ministry said. 07:55 GMT – Russia’s coronavirus cases near 100,000 …

Premarket: The coronavirus pandemic has broken the oil market
4 years, 8 months ago

Premarket: The coronavirus pandemic has broken the oil market

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. “There’s a lot of oil and no real place to put it right now, so no one wants to take delivery of it,” Randy Giveans, a Jefferies analyst, told me. “We’ve seen more contracts in the last four weeks than for the past four years combined,” …

Dow stock market today: US stocks climb higher
4 years, 8 months ago

Dow stock market today: US stocks climb higher

CNN  

The stock market may have bounced back from its worst lows and plenty of bad news is already priced in, but it still might not be the right place to be invested during the coronavirus recession. “Since the third week of March we’ve been very aggressively going from zero exposure to credit to a large overweight in credit,” Alessio de …

Should you invest in the time of coronavirus? Here's what experts think
4 years, 9 months ago

Should you invest in the time of coronavirus? Here's what experts think

India TV News  

There is a famous quote by Warren Buffet which suits the current situation of markets that -- "Be fearful when others are greedy, and be greedy when others are fearful". For long term investor this is good time to buy quality stocks at reasonable price Many market experts say that like many other crisis this too will pass and come …

Asia markets extend Wall Street losses on coronavirus fears
4 years, 9 months ago

Asia markets extend Wall Street losses on coronavirus fears

Deccan Chronicle  

Hong Kong: Equity markets fell in Asia on Thursday, tracking a sharp drop on Wall Street as the deadly coronavirus sweeps the planet, with the infection rate fast approaching one million and forcing countries to tighten already strict lockdown measures aimed at containing the disease. Donald Trump's COVID-19 task force has warned the US could see almost a quarter of …

Trump ignored White House economists' warning of devastating impact of pandemic months ago: report
4 years, 9 months ago

Trump ignored White House economists' warning of devastating impact of pandemic months ago: report

Raw Story  

A study by the Council of Economic Advisers ordered by the National Security Council predicted that a pandemic similar to the 1918 Spanish flu or the 2009 swine flu could lead to a half-million deaths and cost the economy as much as $3.8 trillion. "Tens of millions of people could become ill, with many requiring hospitalization; and a significant number—especially …

Economic fallout from pandemic continues in Asia
4 years, 9 months ago

Economic fallout from pandemic continues in Asia

Deccan Chronicle  

TOKYO: Asian shares were mixed on Wednesday, on continuing worries about the economic fallout from the pandemic as reports of coronavirus cases keep surging in various regions. The S&P 500 dropped a final 1.6%, bringing its loss for the first three months of the year to 20% as predictions for the looming recession caused by the coronavirus outbreak got even …

Coronavirus recession now expected to be deeper and longer
4 years, 9 months ago

Coronavirus recession now expected to be deeper and longer

LA Times  

The Pike in Long Beach -- normally crowded with weekend shoppers, diners and moviegoers -- is almost completely deserted on Saturday, March 21. “You may well see significant rises in unemployment and significant declines in economic activity, but there can also be a good rebound on the other side of that,” he said in a rare television appearance last week. …

Coronavirus downturn has been rapid and sharp, says former Fed head Janet Yellen
4 years, 9 months ago

Coronavirus downturn has been rapid and sharp, says former Fed head Janet Yellen

Firstpost  

Talking of the employment sector, Yellen said she was expecting higher percentages of unemployment due to the coronavirus outbreak. Former US Federal Reserve chairperson Janet Yellen has said the economic downturn due to the coronavirus pandemic has been “rapid and sharp” and is “different” than any the country has faced. Speaking at an online seminar hosted by the Brookings Institution, …

Why stocks have further to fall amid the coronavirus pandemic
4 years, 9 months ago

Why stocks have further to fall amid the coronavirus pandemic

ABC  

If ever you needed convincing that financial markets have become completely divorced from reality, just look at the events of last week. The performance, based on the hope that central banks and government stimulus would insulate financial markets from a global economic downturn, was more BS than bull. The wild ride on global markets last week, following a month of …

Coronavirus | Why has the stock market been so volatile?
4 years, 9 months ago

Coronavirus | Why has the stock market been so volatile?

The Hindu  

The story so far: On Friday, even after the Reserve Bank of India announced a slew of measures to boost the economy in the time of a pandemic, shares fell 1% to close at 29,416 points. In India, investor concerns have led to foreign portfolio investors selling equities worth nearly ₹60,000 crore in the current month, the highest ever single …

Federal Reserve Chair Contradicts Trump: Curbing Coronavirus Is 'First Order Of Business'
4 years, 9 months ago

Federal Reserve Chair Contradicts Trump: Curbing Coronavirus Is 'First Order Of Business'

Huff Post  

LOADING ERROR LOADING The chairman of the Federal Reserve on Thursday contradicted President Donald Trump’s push to reopen the economy as soon as possible, advising that curbing the spread of the coronavirus is “the first order of business” and recommending the advice of public health experts. “I think the first order of business will be to get the spread of …

Control pandemic first, then open economy, Fed chairman says
4 years, 9 months ago

Control pandemic first, then open economy, Fed chairman says

Al Jazeera  

‘First order of business will be to get the spread of virus under control, then resume economic activity,’ Powell said. The United States “may well be in recession”, but progress in controlling the spread of the coronavirus will determine when the economy can fully reopen, US Federal Reserve Chair Jerome Powell said Thursday in a rare network television interview on …

Coronavirus will almost certainly put Dutch economy in recession: Planning Office
4 years, 9 months ago

Coronavirus will almost certainly put Dutch economy in recession: Planning Office

NL Times  

The outbreak of the coronavirus will almost certainly result in a recession for the Dutch economy, according to Pieter Hasekamp, director of central planning office CPB. "We are still calculating, but a recession is almost inevitable," he said in an interview with the Telegraaf. In early March the CPB forecast said that the Dutch economy will grow 1.4 percent this …

Coronavirus melts stock markets; investors' wealth plummets over Rs 10 lakh crore in first hour of trade
4 years, 9 months ago

Coronavirus melts stock markets; investors' wealth plummets over Rs 10 lakh crore in first hour of trade

Firstpost  

Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 percent New Delhi: Investor wealth plummeted by over Rs 10 lakh crore in the first hour of trade on Monday as the equity markets went into a tailspin and sank 10 percent. …

Coronavirus deals a death blow to U.S. economic expansion
4 years, 9 months ago

Coronavirus deals a death blow to U.S. economic expansion

The Hindu  

No one knows how long it will last or how much it will hurt. But the U.S. economy is either sliding into a recession for the first time since 2009 or is already in one — a sudden victim of the coronavirus outbreak. The vast changes deemed necessary to defeat the virus — people and companies no longer engaging with …

How much damage could coronavirus ultimately cause? The share market has some answers
4 years, 9 months ago

How much damage could coronavirus ultimately cause? The share market has some answers

ABC  

Something extraordinary happened this week. What the market is saying about the Australian economy From peak to trough, the All Ordinaries Index and the ASX200 have fallen roughly 25-30 per cent. Each day, it's entirely possible we will see market moves anywhere between 3 and 10 per cent — depending on the news flow. Tuesday's market resurgence is a classic …

China's economy skids as coronavirus paralyses industries, households; factory production plunges at sharpest pace in 30 years
4 years, 9 months ago

China's economy skids as coronavirus paralyses industries, households; factory production plunges at sharpest pace in 30 years

Firstpost  

China’s factory production plunged at the sharpest pace in 30 years in the first two months of the year as the fast-spreading coronavirus and strict containment measures severely disrupted the world’s second-largest economy Beijing: China’s factory production plunged at the sharpest pace in 30 years in the first two months of the year as the fast-spreading coronavirus and strict containment …

Coronavirus jolts global stock markets
4 years, 9 months ago

Coronavirus jolts global stock markets

Deccan Chronicle  

LONDON: The coronavirus panic is jolting stock markets, with steep drops in major indexes grabbing the public’s attention. This sudden flight to safety is causing havoc in markets for bonds, currency and loans to a degree that hasn’t been seen since the financial crisis of a dozen years ago. Francesco Papadia, who oversaw the European Central Bank’s market operations during …

The economic impact of coronavirus and the response so far, in nine charts
4 years, 9 months ago

The economic impact of coronavirus and the response so far, in nine charts

Live Mint  

New Delhi: Poor cash flows, rising leverage, and stretched valuations of firms had analysts worried about an impending global recession since last year. The rapid spread of the novel coronavirus across the world threatens to morph into a global recession now even as governments and central banks scramble to limit the shock. For India, as for most other countries, the …

Economic paralysis: Coronavirus slams brakes on China economy
4 years, 9 months ago

Economic paralysis: Coronavirus slams brakes on China economy

Al Jazeera  

Everyone knew the coronavirus outbreak was hurting China’s economy. Urban investment and retail sales also fell sharply for the first time on record, reinforcing views that the epidemic may have cut China’s economic growth in half in the first quarter. Industrial output fell by a much worse-than-expected 13.5 percent in January-February from the same period a year earlier, the weakest …

The global coronavirus recession is beginning
4 years, 9 months ago

The global coronavirus recession is beginning

CNN  

London CNN Business — As restaurants, shops, airlines and factories shutdown around the world, from New York to Paris and Madrid, economists are warning that a global recession is no longer a looming threat. “Whereas 10 days ago there was some legitimate uncertainty about whether the global economy was in the process of going into recession — 10 days later, …

As Covid-19 Spreads, Listen to the Stock Market—for Now
4 years, 9 months ago

As Covid-19 Spreads, Listen to the Stock Market—for Now

Wired  

Covid-19 was officially declared a pandemic Wednesday, and stocks officially entered a bear market, falling more than 20 percent from their peak just last month. Stock prices reflect expectations of future profits, and investors see the virus dampening economic activity and reducing profits. Apple a few weeks ago announced that it would not meet its forecasts for the current quarter …

Dow Dives 1,400 Points, Entering Bear Market, As Coronavirus Fears Grow
4 years, 9 months ago

Dow Dives 1,400 Points, Entering Bear Market, As Coronavirus Fears Grow

NPR  

Dow Dives 1,400 Points, Entering Bear Market, As Coronavirus Fears Grow Enlarge this image toggle caption Timothy A. Clary/AFP via Getty Images Timothy A. Clary/AFP via Getty Images Updated at 5:18 p.m. The meant that the blue chip index entered bear market territory, ending its 11-year winning streak. Economy Administration, Congress Consider Coronavirus Stimulus As Dow Enters Bear Market Administration, …

The coronavirus economic ‘disaster’ scenario: Stagflation
4 years, 9 months ago

The coronavirus economic ‘disaster’ scenario: Stagflation

CNN  

New York CNN Business — The Federal Reserve has already slashed interest rates by a half-point to counteract a possible coronavirus-induced economic slowdown. People are dismissing it as an old threat from the ’70s that won’t happen again, but you could see it come back,” said Nancy Davis, chief investment officer of Quadratic Capital Management and portfolio manager of the …

Two economic scenarios for the impact of coronavirus on the US (opinion)
4 years, 9 months ago

Two economic scenarios for the impact of coronavirus on the US (opinion)

CNN  

Editor’s Note: Gad Levanon is a vice president at The Conference Board, where he heads the Labor Markets Institute. Then, starting in May or June, if the virus-related fear subsides, the US economy could enjoy a bounce-back, as consumers resume their typical spending behavior and businesses fix their supply chains and resume production at normal capacity. If consumers and businesses …

How coronavirus and an oil war have pushed the stock market from boom to bust
4 years, 9 months ago

How coronavirus and an oil war have pushed the stock market from boom to bust

ABC  

It has been the longest winning streak in history. There have been a few blips along the way — the European debt crisis in 2012 and the Brexit vote gave Wall Street a dose of the wobbles and just 18 months ago, investors began unloading stocks as fears of a global slowdown followed a series of US interest rate hikes. …

Stocks Plunge Amid Coronavirus Outbreak, Triggering Wall Street Trading Halt
4 years, 10 months ago

Stocks Plunge Amid Coronavirus Outbreak, Triggering Wall Street Trading Halt

Huff Post  

LOADING ERROR LOADING The Dow Jones Industrial Average sank 7.8%, its steepest drop since the financial crisis of 2008, as a free-fall in oil prices and worsening fears of fallout from the spreading coronavirus outbreak seize markets. AP’s earlier story follows below: Coronavirus fears and a crash in oil prices sent a shudder through financial markets Monday, with stocks plummeting …

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