Written by Gary
DOW tumbles more than 1,700 points as oil price plunge and coronavirus fears rock stock market (SPY -6.2%). SP 500 down 6.1%.
Here is the current market situation from CNN Money | |
 | North and South American markets are sharply lower today with shares in Brazil off the most. The Bovespa is down 9.74% while U.S.’s S&P 500 is off 5.92% and Mexico’s IPC is lower by 2.26%. |
What Is Moving the Markets
| Here are the headlines moving the markets. | |
| Big Oil faces ‘survival mode’ payout strategies as prices diveAn oil price plunge means the world’s top energy companies will have to review promises to return billions to investors, either by slowing down share buybacks or reintroducing non-cash dividends, analysts said on Monday. |
| Wall Street whacked by oil crash, virus fearsWall Street’s main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 20% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession. |
| Trump blames oil fight, ‘Fake News’ for stock market dropU.S. President Donald Trump blamed a fight for oil market share between Saudi Arabia and Russia, as well as unspecified “Fake News,” for a precipitous drop in U.S. stock prices on Monday, amid sliding demand for crude due to the coronavirus. |
| What you need to know about coronavirus right nowHere’s what you need to know about the coronavirus: |
| Investor fears rise over recession, bear market as coronavirus spreads in U.S.The words “bear market” and “recession” are being used with increasing frequency as investors try to assess how badly the coronavirus outbreak will damage global growth and to what extent it could further weigh on asset prices. |
| Factbox: Airlines suspend flights due to coronavirus outbreakAirlines across the globe have suspended flights or modified services in response to the coronavirus outbreak. |
| Business picks up pace in China, but global virus spread may slow recoveryChina’s business and travel activities are steadily recovering after being disrupted by the coronavirus outbreak, but rapidly rising infections globally will pose a challenge to the country’s broader economic resumption. |
| Oil prices plunge, hit by erupting Saudi-Russia oil price warOil prices crashed on Monday, suffering their biggest daily rout since the 1991 Gulf War, after the collapse of an OPEC+ supply agreement that now threatens to overwhelm the world with oil, inciting panic throughout the energy sector. |
| Russia vs Saudi: How much pain can they take in oil price war?Oil titans Russia and Saudi Arabia have accumulated vast financial cushions that will help them weather a lengthy price war. It’s a battle of nerves – so who will blink first? |
| More Coronavirus Censorship: Social Media Companies Partner With WHO To Censor InfoMore Coronavirus Censorship: Social Media Companies Partner With WHO To Censor Info Authored by Mac Slavo via SHTFplan.com, Social media companies have made the decision to partner with œhealth authorities (government officials like those who work for the CDC) to combat œmisinformation about the coronavirus. We all know what this means. Under the mainstream media’s seemingly innocent words lies a rash of new censorship coming down the pipes. |
| Coronavirus Global Death Toll Nears 4,000 As WHO’s Tedros Says Outbreak Finally Starting To Look Like “A Real Pandemic”: Live UpdatesCoronavirus Global Death Toll Nears 4,000 As WHO’s Tedros Says Outbreak Finally Starting To Look Like “A Real Pandemic”: Live Updates Summary: First 2 Coronavirus deaths recorded in Germany WHO’s Dr. Tedros says threat of pandemic has become “very real” Confirmed cases near or pass 1,000 in France, Germany and Spain Germany state of Brandenburg has between 4k and 5k in home quarantine South Korea imposes travel advisory, confirms another 96 cases; 3 new deaths (total: 54) Hungary stops flights to and from Northern Italy PM Johnsons says UK won’t close parliament Trump to hold WH meeting on fiscal stimulus Italian PM promises “massive shock therapy” to save economy from coronavirus Deutsche Bank cancels 150-year-anniversary celebrations Dozens of flights leave northern Italy despite quarantine, even as airlines cancel routes Moody’s says US economy headed for recession Cuomo confirms 142 new cases in New York State, bringing total confirmed in NYC to 19 NY has started making its own sanitizer Columbia University cancels classes, Princeton moves lectures online 77 new public health labs open across US Monday Spain PM says he will have ’emergency plan’ to tackle outbreak UK confirms another 45 cases VP Pence will hold press conference at 5:30ET Monday Amtrak shutters ‘Acela Corridor’ Korean construction worker contracted by US military tests positive Total number of cases in Italy hits 7,375 ‘Grand Princess’ docks in Oakland Another cruise ship … |
| European Stocks Crash Most ‘Since Lehman’, Enter Bear MarketEuropean Stocks Crash Most ‘Since Lehman’, Enter Bear Market European stock markets just suffered their worst decline since Lehman… Oct 2008 as the crude and Covid chaos rolls around the world… Europe is now down over 22.5% – a bear market – from highs just 3 weeks ago… |
| Grassley Floats Targeted Tax Relief In Response To CoronavirusGrassley Floats Targeted Tax Relief In Response To Coronavirus Update (1249 p.m.): Senate Finance Committee Chairman Chuck Grassley (R-IA) is exploring tax relief to mitigate the impact of coronavirus. |
| Jio is doing what no other telco in the world has ever doneJio is doing what no other telco in the world has ever doneJio has developed its own 5G and other technologies, to cut costs and reduce dependence on foreign vendors. |
| YES rescue deal: Bondholders move courtYES rescue deal: Bondholders move courtNippon India MF is the largest investor in Yes Bank AT1 bonds — holding Rs 2,400 crore. |
| The message in Saudi Prince’s one-two punchThe message in Saudi Prince’s one-two punchThe royals’ arrest and the oil price war suggest the Crown Prince is not going to let anything get in his way. |
| February 2020 Conference Board Employment Index DeclinesWritten by Steven Hansen The Conference Board’s Employment Trends Index – which forecasts employment for the next 6 months declined with the authors saying it is “The drop in February was the result of a large negative contribution from the ‘Jobs Hard to Get’ component.”
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| Market Extra: How an ‘oil shock’ and coronavirus combined to spark a global stock-market selloffOil plunges Monday as Saudi Arabia and Russia prepare for a global price war, sending shock waves through global financial markets. Here’s why a big drop in crude prices is a problem. |
| Market Snapshot: Dow tumbles more than 1,300 points as oil price plunge and coronavirus fears rock stock marketU.S. stock indexes trade down by at least 4% Monday midday, after an opening plunge for the market triggered an initial circuit breaker, amid rising fears of an oil price war between OPEC and Russia and growing worries about the spread of coronavirus. |
| Market Extra: Has the coronavirus selloff created a stock-buying opportunity, or is it too early? Here’s what analysts and strategists are advisingIs it safe to go back into the water after stocks have been rocked by the COVID-19 outbreak? |
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