(Bloomberg) -- U.S. stocks plunged as much as 3.2% as investors grew anxious that the resurgence in virus cases in multiple states will hamper the economic recovery. Yields on Treasuries fell and the dollar strengthened.All 11 sectors in the S&P 500 sank at least 1.6%, with energy and real estate down more than 3% after data showed Florida set another daily record for new cases, Houston said its intensive-care unit beds are at 97% capacity. Travel stocks and other companies that had been climbing amid reopening optimism got hammered with New York, New Jersey and Connecticut requiring visitors from virus hot spots to self-quarantine. Even the tech-heavy Nasdaq Composite was lower for the first session in nine.“All the hopes of investors looking for a better economy to improve the bottom lines of companies shut down in the recession have been dashed,” said Chris Rupkey, chief financial economist at MUFG Union Bank.Market...
The Federal Aviation Administration (FAA) on Wednesday finalized a directive requiring airlines to complete inspections of a key component of Boeing 737 MAX airplanes that, if faulty, could result in a loss of power to the engines. The FAA, in response to a service bulletin issued by Boeing in December, proposed an airworthiness directive in February to mandate inspections. The directive addressed concerns that some 737 MAX exterior panels on top of the engine may not have electrical bonding necessary to ensure adequate shielding of underlying wiring from the electromagnetic effects of high-power radio frequency transmitters and other sources....
National average diesel fuel prices hit $2.43 per gallon as of June 22. This represents a 3-cent rise from the previous week, but overall, prices are still down around 62 cents per gallon compared to same time last year. ...
The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. We at Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F […]...
