U.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.
Wall Street's main stock indexes plummeted and the Dow Jones Industrials crashed 2,000 points on Monday as a 22% slump in oil prices and the rapid spread of the coronavirus amplified fears of a global recession.
Robinhood is experiencing another major outage on Monday.
As the coronavirus outbreak continues to hit global markets, Credit Suisse cut its 2020 S&P 500 target while also reducing earnings estimates.
CNN Business | Samantha Murphy Kelly | March 7, 2020 New York (CNN Business)The ongoing spread of coronavirus is forcing institutions around the world to rethink one particularly germy surface that most consumers touch every day: cash. On Friday, South Korea's central bank said it was taking all banknotes out of circulation for two weeks --
Twitter Inc announced a deal with Elliott Management and private equity firm Silver Lake on Monday, handing both board seats after a month in which activist investors were said to be pushing for the removal of Chief Executive Officer Jack Dorsey.
Government policymakers will need to implement “substantial” targeted fiscal, monetary and financial market measures to combat the economic impact from the rapidly spreading coronavirus, International Monetary Fund chief economist Gita Gopinath said on Monday.
Saudi Aramco shares fell by as much as 10% on Monday, dropping below their December listing price after Saudi Arabia and Russia said they would raise oil production in a battle for market share, sending crude prices down by a third.
Trading on U.S. stock exchanges was halted immediately after opening on Monday, as the S&P 500 fell 7%, triggering an automatic 15 minute cutout put in place after the 2008-9 financial crisis.
The United States, the European Union, Canada and six European nations have held joint talks on concerns over Mexico's energy policy, sources told Reuters, as President Andres Manuel Lopez Obrador pushes for a bigger role for the state in the sector.
The Australian privacy regulator filed a lawsuit against Facebook Inc accusing the social media giant of sharing the personal details of more than 300,000 people with political consultant Cambridge Analytica without their knowledge.
Oil prices plummeted around 30% on Monday after Saudi Arabia slashed its official selling prices and set plans for a dramatic increase in crude production next month, starting a price war even as spread of the coronavirus erodes global demand growth.
The unexpected writedown of some bonds issued by crisis-hit Indian lender Yes Bank Ltd as part of a state-led rescue is set to raise borrowing costs and make capital-raising tougher for other banks, investors and analysts said.
Wall Street suffered its biggest one-day loss since the 2008 financial crisis on Monday and recession worries loomed large as tumbling oil prices and ongoing coronavirus fears prompted investor panic on the anniversary of the U.S. stock market's longest-ever bull run.
Amazon.com Inc has extended its work-from-home advisory to include employees in New York and New Jersey, the company said Monday, as the world's largest online retailer and other corporations aim to lower the risk of coronavirus transmission among their ranks.