A medical worker in protective clothing attends the COVID-19 coronavirus response-training exercise, at the Oleksandrivska Clinical Hospital in Ukraine. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Stock markets are plunging — down about 7% at Monday’s close — oil prices are in free fall, supply chains are being disrupted, and in the middle
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Older Americans may be glad to know that Medicare generally will cover the cost of testing for the new coronavirus, or COVID-19. Yet getting a test isn’t as simple as going to your local pharmacy or doctor’s office and asking for one. “Lab services are covered by Medicare, but if someone wants a random test
China‘s foreign ministry on Monday objected to the expression “Wuhan coronavirus” — saying the name will “stigmatize” the country — following remarks from U.S. Secretary of State Mike Pompeo. The objection marks the latest from Beijing leaders and the country’s state-controlled media, which have gone as far as to claim that the coronavirus outbreak, which was
The stock market continues to slide as coronavirus concerns persist, but shares of Amazon are looking like a buying opportunity, CNBC’s Jim Cramer said Monday. “I like Amazon right here,” Cramer said on “Squawk on the Street.” “I think you start a position in Amazon absolutely.” Amazon’s stock was down more than 2% on Monday and
CasarsaGuru If the coronavirus has you spooked, you’re in good company. Even wealthy investors are building up their cash cushions. Global markets haven taken a beating over the last two weeks, amid worries about COVID-19. The pain continued on Monday morning as the S&P 500 tumbled by more than 7% and trading was halted. Recent
The U.S. Federal Reserve could have saved itself an unnecessary — and counterproductive — interest rate cut last week by explaining to Americans that their fully employed economy needed no further credit easing. As a reminder, note that the Fed’s charter mandates what amounts to a fully-employed economy and stable prices. That’s a very tough call.
Jim McGuire | Getty Images As the market hits the skids, experts are warning that you shouldn’t make rash moves with your portfolio. And that includes one retirement income source you might turn to for safety: your Social Security benefits. A recent survey from SimplyWise, a retirement income technology provider, found that 1 in 4
President Donald Trump on Monday said he will be meeting with Senate and House Republicans on Tuesday to discuss “a possible tax relief measure to provide “a timely and effective response to the coronavirus.” “We are to be meeting with House Republicans, Mitch McConnell, and discussing a possible payroll tax cut or relief, substantial relief,
Stock futures fell in overnight trading Monday, pointing to more trouble ahead after the S&P 500’s worst day since the financial crisis. Futures on the Dow Jones Industrial Average dropped 410 points, indicating a drop of about 375 points at Tuesday’s open. The S&P 500 futures also traded about 40 points lower. The market suffered a
Oil pumpjacks in the Permian Basin oil field are getting to work as crude oil prices gain. Spencer Platt | Getty Images CNBC’s Jim Cramer said Monday he could see the oil industry experiencing a significant wave of bankruptcies if low crude prices persist. Of the more than 35 companies in the oil industry he
Jeff Bezos Getty Images Jeff Bezos lost $7 billion in paper wealth overnight, and more than $18 billion over the past month, as Amazon’s share price has plunged on fear that the coronavirus outbreak will slow the global economy. The world’s richest person saw his wealth drop to $110 billion overnight, down from $117 billion,
GSO Images When the stock market goes haywire, gold often becomes the “gold” standard in the eyes of everyday investors. True to form, gold is coming off its best week since 2016, as fears around the global spread of the coronavirus led to a sharp selloff in the stock market and nudged investors to retreat to what they perceived
Scott Gottlieb, former Commissioner of the FDA Adam Jeffery | CNBC The U.S. will need a “massive financial package” to curb the spread of COVID-19, former Food and Drug Administration commissioner Scott Gottlieb told CNBC on Monday. The virus has spread past the point of containment, Gottlieb said, and hard-hit regions should be moving toward
1. Dow set to tank as oil prices and bond yields crater Traders work during the opening bell at the New York Stock Exchange (NYSE) on March 5, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images U.S. stock futures pointed to an over 1,300-point plunge for the Dow
People wearing masks visit a market amid the coronavirus outbreak on March 8, 2020 in Kunming, Yunnan Province of China. Liu Ranyang | China News Service | Getty Images This is a live blog. Please check back for updates. Global cases: At least 106,893, according to the latest figures from the World Health Organization Global
Ekkasit Keatsirikul | EyeEm | Getty Images A state-of-the-art research and development (R&D) center in Scotland has just got planning permission, as the country leans in to so-called “smart manufacturing.” Known as the National Manufacturing Institute Scotland (NMIS), the £65 million ($85.21 million) center will be located on Netherton Campus, a 52-hectare site adjacent to
Oil prices plunged 30% in early trading Sunday night as OPEC’s failure to strike a deal with its allies regarding production cuts sparked fears of a price war as Saudi Arabia reportedly gets set to ramp up production. International benchmark Brent crude futures plummeted 30% to $32.05 per barrel. U.S. West Texas Intermediate crude dropped 27%
[The stream is slated to start at 11:00 a.m. ET. Please refresh the page if you do not see a player above at that time.] World Health Organization officials are holding a press conference on Monday to update the public on the coronavirus outbreak. The virus has infected more than 111,300 people and killed at
Sea turtle lies lifeless, wrapped in plastic on the shores of Porto de Galinhas beach on January 12, 2017 in Ipojuca, Brazil. Marcos Souza | Brazil Photo Press | LatinContent via Getty Images Across the world, sea turtles are swallowing bits of plastic in the ocean and often dying as a result. There are many
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 111,300, according to data compiled by Johns Hopkins University. Global deaths: At least 3,892, according to data compiled by Johns