Finance

Americans pulled back on their spending in January, even as their incomes surged, a sign the economy was growing modestly before the threat of coronavirus arose By CHRISTOPHER RUGABER AP Economics Writer February 28, 2020, 1:41 PM 1 min read WASHINGTON — Americans pulled back on their spending in January, even as their incomes surged, […]

This week’s big sell-off on Wall Street suggests stocks have finally caught up to the bond market, where fear of an economic slowdown has been evident for months By ALEX VEIGA AP Business Writer February 28, 2020, 12:10 AM 3 min read LOS ANGELES — This week’s big sell-off on Wall Street suggests stocks have

European and Asian markets tumbled on Friday, and U.S. futures pointed to a continuing sell-off on Wall Street, as investors continued to worry about the potential harm to worldwide economic growth from the coronavirus outbreak. The slide in Asia and Europe followed a 4.4 percent nose-dive in the S&P 500 index on Thursday, the worst

NEW YORK — The stock market‘s current slide hit a big milestone Thursday after indexes got pounded for a sixth straight day. The S&P 500 has dropped more than 10% from its record high, set just over a week ago, as worries have increased that a fast-spreading new virus will slam economies and corporate profits

Asian stock markets plunged further Friday on spreading virus fears, deepening a global rout after Wall Street endured its biggest one-day drop in nine years. The Tokyo and Shanghai benchmarks sank by an unusually wide margin of 3.7%. Seoul and Sydney dropped by more than 3% and Hong Kong lost 2.5%. Oil prices slumped on

Fear of the spreading coronavirus has led to a global run on sales of face masks despite medical experts’ advice that most people who aren’t sick don’t need to wear them. Many businesses are sold out, while others are limiting how many a customer can buy. Amazon is policing its site, trying to make sure

NEW YORK, Feb 27 (Reuters) – Investment-advisors are increasingly worried that U.S. authorities are not doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets. Their criticisms include the number of people so far tested by the U.S. Centers for Disease Control and Prevention (CDC), which

A Japanese vice minister for justice is heading to Lebanon for talks on the case of former Nissan executive Carlos Ghosn, who fled bail for his home country late last year February 28, 2020, 4:04 AM 2 min read TOKYO — A Japanese vice minister for justice is heading to Lebanon for talks on the

“We’d absolutely expect to see a response from the Federal Reserve, not least to shore up confidence,” said Paul Ashworth, an economist at Capital Economics, a research consultancy. But he pointed out that monetary policy worked on the economy with a six- to nine-month lag, and “it doesn’t deal with the supply-side impact of, say,

California power regulators slapped Pacific Gas & Electric with a $2.1 billion fine for igniting a series of deadly wildfires that landed the beleaguered utility in bankruptcy By MICHAEL LIEDTKE AP Business Writer February 28, 2020, 1:48 AM 3 min read SAN FRANCISCO — California power regulators on Thursday slapped Pacific Gas & Electric with