Investors piled into volatility bets before market tumble
Fears of a coronavirus-fueled slowdown have injected volatility back into markets, but some investors may be less exposed this time around.
Fears of a coronavirus-fueled slowdown have injected volatility back into markets, but some investors may be less exposed this time around.
The Federal Aviation Administration (FAA) on Tuesday proposed that airlines complete inspections on a key component that could make Boeing 737 MAX airplanes vulnerable to lightning strikes and interference from high-power radio frequency transmitters before returning to service.
Travel restrictions to China because of the coronavirus have come just as Apple Inc's engineers usually jet off to Asia to perfect the production of this fall's new iPhones, former employees and supply chain experts told Reuters.
Forever 21's new co-owner Authentic Brands Group said on Tuesday it had appointed former H&M executive Daniel Kulle as the new chief executive officer of the bankrupt apparel retailer.
Wall Street's three major stock indexes fell almost 2% on Tuesday as the coronavirus spread further around the world and officials described it as "a rapidly escalating epidemic," a day after the S&P 500 and the Dow Industrials' biggest daily decline in two years.
Macy's Inc holiday-quarter results beat analyst expectations on Tuesday, but investor skepticism around its cost-cutting strategy at a time of intense online competition sent shares down nearly 5%.
Stocks across the globe fell on Tuesday to their lowest since mid-December and the benchmark U.S. debt yield was near a record low on lingering concerns about the economic hit of the spread of the novel coronavirus.
The chairman of the National Transportation Safety Board on Tuesday criticized Tesla Inc 's lack of system safeguards in a fatal March 2018 California Autopilot crash and U.S. regulators "scant oversight."
The Federal Aviation Administration (FAA) on Tuesday proposed that airlines complete inspections on a key component that could make Boeing 737 MAX airplanes vulnerable to lighting strikes and interference from high-power radio frequency transmitters before returning to service.
Mallinckrodt Plc on Tuesday said it had agreed to a $1.6 billion settlement proposal in which its generic drug business would file bankruptcy in order to resolve thousands of lawsuits alleging it helped fuel the U.S. opioid epidemic.
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Department store chain Macy's Inc on Tuesday reported quarterly comparable sales that beat Wall Street estimates with the help of a smaller-than-feared decline in holiday sales. Macy’s shares rose 7% in pre-market trade. Comparable sales at Macy's owned and licensed stores fell 0.7% in the fourth quarter ended Feb. 1, compared with the 0.93% drop estimated by analysts, according to IBES data from Refinitiv. Net income attributable to the company fell to $340 mil
Mastercard said on Tuesday Chief Executive Officer Ajay Banga will step down at the start of the next year and will be replaced by Chief Product Officer Michael Miebach.
Global stocks sank to their lowest levels in over two months on Tuesday, as relief from a sharp selloff the previous day on fears about the spreading coronavirus proved temporary.
Mastercard announced that CEO Ajay Banga will leave his position and become executive chairman.