Economic news

U.S. stock index futures slid on Thursday, nearly hitting its daily down limit following gloomy market response to U.S. President Trump’s announcement regarding measures against the coronavirus pandemic. S&P 500 slid down to 4.7%, to 2,610 points, almost reaching its daily down limit at 2,601 points. Chief market strategist Quincy Krosby at Prudential Financial in […]

Despite top U.S. automakers executives assuring an undisrupted factory production, fears of a slowdown in sales growth of the car industry in the United States is a recurring theme among forecasts of economic analysts. The big three automakers in the U.S., General Motors Co, Ford Motor Co, and Fiat Automobiles NV reported a continuous, undisrupted […]

In light of the World Health Organization’s declaration of COVID-19 being a pandemic, the Dow confirmed a bear market with Wall Street stocks crashing down. The three major U.S. stock averages plunged on Wednesday as the S&P 500 and Nasdaq composite index hitting 19% below their record on Feb. 19, their highest records for the […]

Oil prices fell on Thursday alongside major markets as U.S. President Donald Trump implemented a travel ban on Europe, after the World Health Organization declared the ICOVID-19 outbreak as a pandemic. Investor worries were doubled by an overflow of cheap supply threatening the market after Saudi Arabia assured an increase in oil production to record […]

LONDON – Europe’s market revenue were anticipated to decline this week as the vast spread of the pandemic coronavirus outbreak sparked terror and fright to the worldwide economy. This was according to leading global Refinitiv’s findings on Tuesday.  STOXX Europe 600 is slated to affix a 3.1% decrease in their first quarter income (January to […]

Asian markets and Wall Street futures fell on Wednesday after details of Washington’s stimulus package made to combat the impact of the virus raised skepticism among investors. Wall Street futures fell by 2.2% while in Asia, the MSCI’s broadest index outside of Japan dipped down 0.29%. Australian shares fell by 2.02% with Japan’s Nikkei slipping […]

Taiwanese financial authorities said on Wednesday that it had prepared a plan to reinforce the country’s stock market and was considering banning traders from short-selling of positions under specific circumstances. The plan was revealed a few days after its equities board observed the largest single-day outflow since the financial crisis in 2008. Foreign investors on […]

Gold prices saw gains on Wednesday following a decline in the last session as investors doubted U.S. President Trump’s proposed stimulus package to ease the virus’ impact. Spot gold gained 0.4%, at $1,656.37 per ounce while U.S. gold futures slid 0.2%, at $1,656.70. The White House and the U.S. Congress discussed measures to implement in […]

Accenture Plc released its study on Wednesday revealing that major banks across the globe are in danger of losing billions of dollars of fee-based retail revenue coming from the intensified regulatory pressure and tougher competition as new entities offer no-fee services. The study also noted that bank revenues across 12 markets around the globe in […]

Finance Minister Rishi Sunak said on Wednesday that the British government will allocate 2.5 billion pounds ($3.2 billion) on road repairs fixing approximately 50 million potholes in roads over the next five years. According to Sinak, the extra 500 million pounds of spending on road repairs in the coming years was part of a larger […]