Fresh support announced by the Federal Reserve failed to lift Wall Street on Monday, after Europe and Asia had both been overwhelmed by the coronavirus pandemic and growing number of national lockdowns that could push the global economy deep into recession.
The S&P 500 opened lower, reversing a brief bounce in U.S. stock futures after the U.S. Federal Reserve on Monday said it would backstop an unprecedented range of credit for households, small businesses and major employers to offset the "tremendous hardship," caused by coronavirus.
A Federal Reserve "Main Street" lending program still under development is meant to dovetail with proposals under consideration by Congress to make sure the full range of U.S. companies, from the smallest to the largest, have access to credit during the coronavirus health scare, the Fed said on Monday.
U.S. corporate credit spreads narrowed on Monday, indicating positive investor sentiment, following the Federal Reserve's announcement that it would backstop an unprecedented range of credit.
Wall Street's slide deepened on Monday as the rapidly spreading coronavirus forced more U.S. states into lockdown, eclipsing optimism from an aggressive policy easing by the Federal Reserve and putting the S&P 500 on pace for its worst month since World War Two.
Oil prices extended their decline on Monday, with record low U.S. gasoline prices leading the energy complex lower, as the coronavirus pandemic crushes demand worldwide after travel and industrial activity contracted across the globe in a bid to stem the spread of the virus.
From emergency loans to deferred payments, credit unions and banks across the country are making accommodations for Americans impacted by COVID-19.
Billionaire investor David Tepper said he is "nibbling" at some stocks, particularly in the tech sector, as the broader market tumbles amid the coronavirus outbreak.
Several Senate Democrats are calling for a $200 per month Social Security benefit boost to help older and disabled beneficiaries cope with higher costs amid the coronavirus. Meanwhile, another proposal to give employers a break on FICA taxes could diminish Social Security's funds. Here's what advocates are watching on Capitol Hill.
The bllionaire hedge fund manager said mass production of ventilators is a key part of ending the lockdown period from the coronavirus crisis.
Consumer advocates and former government officials say the Trump administration must do more to help student loan borrowers during the coronavirus pandemic.
A provision in the Senate's coronavirus relief bill will allow affected savers to pull up to $100,000 from their retirement plans, free of the 10% early withdrawal penalty. Here are 3 things you should know.
Techopedia | Claudio Buttice | March 13, 2020 Before AI and the rise of FinTech, very few industry giants had the bandwidth to deal with the inherently quantitative nature of our now tech-savvy world. These AI use cases detail some of the ways AI has been a game-changer for FinTech. Banks alone are expected to
Proposals in both the Senate and House aim to prevent negative information from reaching credit reports. Here's how some emergency measures taken by consumers may impact their credit score.
Twitter Inc said on Monday it is withdrawing its revenue and operating income forecast for the first quarter, citing the growing impact of the coronavirus outbreak.