European markets plunged Thursday morning as investors reacted to President Donald Trump’s decision to impose restrictions on travel to the U.S. from some countries in Europe. The pan-European Stoxx 600 dropped 5.5% in early trade, with travel and leisure stocks plummeting 9.3% following Trump’s announcement of a ban on European travel. Trump said Wednesday that
Month: March 2020
A man wearing a mask walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, as the country is hit by an outbreak of the new coronavirus, February 3, 2020. Jason Lee | Reuters BEIJING — China‘s central bank is expected to cut key rates soon, following a directive from
Allianz chief economist Mohamed El-Erian said Monday that long-term investors should be cautious about buying stocks because financial markets are showing signs of stress. “We started seeing today more market stress, more liquidity stress. Yesterday, it was just the credit market and the inflation market. Today, it got to the Treasury market. So be careful
A tour operator, wearing a protective mask, gestures as he leads a tour near the US Capitol in Washington, DC on March 9, 2020. Andrew Caballero-Reynolds | AFP | Getty Images High-deductible health insurance plans may cover the cost of coronavirus testing and treatment — without individuals having to meet their deductibles, the IRS said
People walk through a sparse international departure terminal at John F. Kennedy Airport as concern over the coronavirus grows on March 7, 2020 in New York City. Spencer Platt | Getty Images The U.S. travel and tourism industry could lose at least $24 billion in foreign spending this year because of the rapidly spreading coronavirus,
If coronavirus infections decline and Congress passes a fiscal stimulus package, Invesco’s Kristina Hooper says, stocks will make a sustainable comeback. She made the call as the Dow was plunging into a bear market, which reflects a 20% or more drop from 52-week highs. “I don’t think we’ve hit a bottom yet,” the firm’s chief
Rockstar energy drink Arun Nevader | Getty Images He failed as a politician. He couldn’t sell his business idea to a vodka company. And he mortgaged his house for $50,000 to launch a business everyone said would flop. But today, Russell Weiner is a cash-rich billionaire after selling Rockstar Energy Drinks to PepsiCo for $3.85
The stock market’s recent extreme volatility has made it advantageous for investors to pick individual equities, Bank of America strategist Savita Subramanian told CNBC on Wednesday. “This is an environment where passive, ETF investing might not be the most prudent way to invest,” Subramanian said on “Fast Money.“ That’s because the market’s sell-off in response to concerns
Hero Images | Hero Images | Getty Images A payroll tax cut is one idea President Donald Trump is considering in response to the negative effects of coronavirus on the U.S. economy. Experts say such a move would not necessarily be a magic bullet. One reason why: It could impair funding to Medicare and Social
Harvey Weinstein enters a Manhattan court house as a jury continues with deliberations in his trial on February 24, 2020 in New York City. prison. Spencer Platt | Getty Images Film producer Harvey Weinstein was sentenced Wednesday to 23 years in prison for a rape and sex assault case that ignited the #MeToo movement in
Traders work at the New York Stock Exchange. Johannes Eisele | AFP | Getty Images U.S. stock futures fell sharply on Tuesday night, pointing to another volatile session on Wall Street following a massive rally. Around 7:40 p.m. ET, Dow Jones Industrial Average futures were down about 366 points, indicating a loss of more than
Given that Australia’s indigenous population thrived for thousands of years before Europeans arrived, it would be logical to assume the country’s native plants — known as bush food — would have long featured on restaurant menus. Not so. For decades, most chefs avoided ingredients like mountain pepper, quandong (a wild peach) and wild rosella, and
U.S. President Donald Trump (L) is introduced by White House economic adviser Larry Kudlow during an Opportunity Zone conference with state, local, tribal and community leaders, in the Eisenhower Executive Office Building. Mark Wilson | Getty Images The leaders of the biggest U.S. banks are scheduled to meet with President Trump Wednesday afternoon as the
US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images If coronavirus is keeping you from filing your tax return in a timely fashion, it just
Washington Gov. Jay Inslee eating a slice of cherry pie at A La Mode Pies on Pi Day in 2018 Chris Porter Last year, Three Babes Bakeshop sold more pies for Pi Day than for Thanksgiving. Usually around this time of year, it has sold out of the 3,000 pies it makes for the holiday
On Friday evening, 45-year-old Ferigo Foscari left the Milan office of the international law firm where he is a partner, and commuted to his family home in Venice, as he has done almost every week for the last four years. He recently began driving the 170 miles between the two cities, after deciding that train
A cleaner walks past a Microsoft office building in Beijing. Greg Baker | AFP | Getty Images As growth slows in the world’s second-largest economy, U.S. companies are looking for more reasons why they should stay and invest more. Many members of the Beijing-based American Chamber of Commerce in China said they are earning less
When things get scary, we all look for something to protect us. A new approach, somebody who seems to have the latest and greatest idea, which appeals to the irrational parts of us that are responding from fear. In the case of coronavirus, this has led to mass purchases of household supplies, protective masks and
US President Donald Trump gestures after arriving on Capitol Hill as US Senate Majority leader Mitch McConnell (R-KY) and Senator Roy Blunt (R-MO) look on in Washington, DC on March 10, 2020. Nicholas Kamm | AFP | Getty Images As oil prices decline and pressure energy companies, President Donald Trump will reportedly likely seek a
Preparing taxes can be a headache. For many taxpayers, it doesn’t have to come with a cost, too. Between public and private options, both online and in person, there are a number of options for free preparation and filing. For about 70% of the nation’s taxpayers — those with adjusted gross income of $69,000 or
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