Wall Street retreats as trade war fears compound virus woes
U.S. stocks dropped on Friday as signs of deteriorating trade relations between the United States and China added to economic worries due to the novel coronavirus pandemic.
U.S. stocks dropped on Friday as signs of deteriorating trade relations between the United States and China added to economic worries due to the novel coronavirus pandemic.
Fiat Chrysler is in talks with Italian lender Intesa Sanpaolo over a 6.3 billion euro ($6.8 billion) state-guaranteed loan to help the automaker weather the coronavirus crisis, a source close to the matter said on Friday.
Investors are bracing for more turbulence in U.S. stocks, as some states prepare to reopen their economies and global trade tensions rise.
As the country starts to reopen its economy amid the coronavirus pandemic, many Americans are still trying to figure out the path forward.
U.S. weapons maker Lockheed Martin Corp said on Friday it would pay an additional $300 million to its suppliers hurt by a sharp economic slowdown caused by the coronavirus crisis.
Air France is putting its grounded pilots through their paces in the flight simulator as the airline prepares to restore flights to dozens of destinations that had been suspended under coronavirus lockdown measures.
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Wall Street's main indexes were set to open lower on Friday after the Trump administration's move to block semiconductor shipments to China's Huawei Technologies ratcheted up fears of trade hostilities between Washington and Beijing.
The Trump administration on Friday moved to block shipments of semiconductors to Huawei Technologies from global chipmakers, in an action ramping up tensions with China.
The first round of $1,200 government stimulus checks is mostly out the door, while another round of payments could be on tap. These are the outstanding questions that are still lingering in many Americans' minds when it comes to that money.
U.S. retail sales endured a second straight month of record declines in April as the novel coronavirus pandemic kept Americans at home, putting the economy on track for its biggest contraction in the second quarter since the Great Depression.
The Belgian government said on Friday it was committed to reaching a deal with Lufthansa to save its Belgian subsidiary Brussels Airlines if the future of the national carrier was guaranteed.
The S&P 500 zig-zagged on both sides of unchanged on Friday as investors weighed worries about Sino-U.S. trade relations and weaker-than-expected retail sales data against optimism over the reopening of the U.S. economy after coronavirus lockdowns.
Virgin Atlantic will not be able to resume passenger flights until August at the earliest if Britain introduces a 14 day quarantine for travellers, according to a source at the airline.
World stocks edged up on Friday and oil prices rallied more than 2%, lifting sentiment after a week pressured by deteriorating U.S.-China relations.