Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. As the outbreak situation continued to worsen, JPMorgan
Month: March 2020
Residential buildings Central Park Tower and 220 Central Park South (left) rise above Columbus Circle on December 26, 2018 in New York City. Gary Hershorn | Corbis News | Getty Images Plunging stocks and coronavirus fears are starting to hit the New York City real estate market. There were 44 open houses that had zero
Investors should be willing to put cash to work after the market’s worst day since “Black Monday” in 1987, CNBC’s Jim Cramer said Friday. “There’s trillions of dollars on the sideline, waiting and waiting and waiting,” Cramer said on “Squawk Box.” “They’ve got what they’ve been waiting for.” He asked, “How can you not start buying
U.S. President Donald Trump speaks during a meeting with Leo Varadkar, Ireland’s prime minister, not pictured, in the Oval Office of the White House in Washington, D.C., U.S., on Thursday, March 12, 2020. Al Drago | Bloomberg | Getty Images Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people’s student loan payments
As the coronavirus cases spreads around the country, small business owners are beginning to feel early impacts, such as supply-chain problems and lost sales. New data from the National Federation of Independent Business show that the current effects may be limited, but worries are big. The group found that 74% of small businesses say they
Volunteers from the Italian Red Cross purchase medicines for those who cannot leave their homes in Castiglione della Pescaia, while Italy is fighting a coronavirus outbreak in Castiglione della Pescaia, Italy March 12, 2020. Jennifer Lorenzini | REUTERS This is a live blog. Please check back for updates. Global cases: At least 125,288, according to
Market researcher James Bianco calls the Federal Reserve’s move to pump $1.5 trillion into the market the “nuclear option” to calm investors gripped by coronavirus fears. Only, it didn’t work Thursday. Instead, stocks saw their worst day since the 1987 Black Monday market crash. “Financial markets are not recovering. It’s incredible to think that a
As the coronavirus spreads across the globe, and travel disruptions — from visas cancellations to flight suspensions — increase by the day, many people are wondering what to do about their summer holidays, if anything at all. Will the situation be worse this summer — or better? Which countries will be safe? And is flying
The U.S. stock market will drop as much as 30% from last month’s highs as global economies go into coronavirus-driven recessions, said economist Mohamed El-Erian, who correctly predicted earlier in the week the selling would continue until a bear market was reached. The former CEO of investment powerhouse Pimco said on CNBC’s “Squawk Box” on Thursday that investors should not expect a quick
Countries around the world are scrambling to rein in the coronavirus and understand its ultimate medical and economic impacts. One prominent business school is using the turmoil as a learning opportunity. The Wharton School at the University of Pennsylvania will soon begin offering a new course about the coronavirus — the disease that’s infected nearly 128,000
Toshi Sasaki | Getty Images As the coronavirus pandemic paralyzes the country, some companies need billions of dollars to pay the bills. The country’s largest investment banks say they’re ready and willing to give it to them. That means the biggest corporate pain won’t be felt from a short-term squeeze. It will likely come later.
Stock futures pointed to more pain ahead on Friday as they fell in overnight trading following major averages losing the most since the “Black Monday” market crash in 1987. As of 6:30 p.m. ET, futures on the Dow Jones Industrial Average lost more than 200 points in overnight trading Thursday. The overnight action followed the official end
Thanagon Karaket / EyeEm | EyeEm | Getty Images As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global
Former Treasury Sec. Jack Lew said Thursday the coronavirus pandemic does not look like the financial crisis and that the federal government should focus on the health crisis and wages for workers before addressing issues with major companies. “It is incumbent on policy makers to look at fiscal tools very carefully and to target them
If you need a pep talk, check out Lauryn Williams, a certified financial planner and four-time Olympian. She knows how to train for a stratospheric goal. Williams, founder of financial advisory firm Worth Winning in Dallas, is a three-time Olympic medalist and the first American woman to earn a medal in both the Summer and Winter Olympic
This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. Global cases: More than 127,749, according to data compiled by Johns Hopkins University. Global deaths: At least 4,717, according to data compiled by Johns
A Goldman Sachs sign is seen on at the company’s post on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Goldman Sachs said that a gym worker employed by a vendor at its New Jersey office is suspected to have caught the coronavirus. The bank said that the worker, an employee of
People pass a sign for JPMorgan Chase at it’s headquarters in Manhattan, New York City. Spencer Platt | Getty Images JPMorgan Chase on Thursday told managers to implement a plan to have employees based in offices in Manhattan, Brooklyn and Jersey City to start working from home in shifts beginning on Friday. “We are asking
From quarantines to working remotely, precautions are being taken across the U.S. in response to the spread of coronavirus. If you find yourself stuck at home, there are ways to make the best of a bad situation, according to “Shark Tank” investor Daymond John. “You have to make sure that you take that time to
President Donald Trump speaks about the U.S response to the COVID-19 coronavirus pandemic during an address to the nation from the Oval Office of the White House in Washington, U.S., March 11, 2020. Doug Mills | Reuters Small business owners on Main Street now have an economic lifeline that can help them weather the coronavirus
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