President Trump said he’s deploying the National Guard to New York, California and Washington, three states hit hard by the novel coronavirus outbreak. Photo: Patrick Semansky/Associated Press...
(Bloomberg) -- U.S. equity futures tumbled at the start of trading Monday after a surge in the global death toll from the coronavirus and a failure as yet by Congress to agree on an aid plan. Crude oil slumped.S&P 500 futures dropped 5% and hit limit down after the index lost more than 4% on Friday. Asian contracts pointed lower. The yen and Swiss franc edged up against the greenback. The New Zealand dollar fell with the country’s bond yields after its central bank joined other countries in saying it will start buying bonds to stimulate the economy. As investors attempt to assess the severity of the upcoming downturn, Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the virus.Markets are “pricing a global recession, which we expect; stay defensive,” Goldman Sachs strategists Kamakshya...
(Bloomberg) -- U.S. stock futures tumbled at the start of trading as investors took stock of the latest developments on the coronavirus’s spread and more stringent measures from countries to control it. The dollar edged lower after its recent run up.S&P 500 futures dropped 5% and hit limit down after the gauge lost more than 4% on Friday. Asian contracts pointed lower. The yen and Swiss franc edged up against the greenback. The New Zealand dollar fell with the country’s bond yields after its central bank joined other countries in saying it will start buying bonds to stimulate the economy. As investors attempt to assess the severity of the upcoming downturn, Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the virus.Markets are “pricing a global recession, which we expect; stay defensive,” Goldman Sachs...
We believe this initial price decline in the global markets is just the first downside price collapse of what may become many. Ultimately, we believe the 2015/2016 lows will become the ultimate support for this downside move in the US markets....
