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 169,387, according to Johns Hopkins University. Global deaths: At least 6,513, according to Johns Hopkins University. US cases: At least […]
Tag: S&P 500 Index
Not every bear market is accompanied by an economic recession, but chances are high
The end to the record-long bull market is now a reality. However, entering a bear market doesn’t always mean a recession is upon us, history shows. This week, the S&P 500 and the Dow Jones Industrial Average entered bear markets, ending their historic 11-year bull runs. A bear market marks a 20% decline from all-time highs. As a […]
Market turmoil sparked by coronavirus is worse than 2008: James Bianco
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 […]
Cramer slams government on coronavirus, evoking his epic 2007 Fed rant
CNBC’s Jim Cramer blasted the U.S. government’s response to the coronavirus on Thursday, arguing “this is the time for radical action.” “They know nothing. They know nothing. We know more than they do, and that’s not acceptable either,” Cramer said, hearkening back to his famous 2007 rant about the Federal Reserve before the financial crisis. “I want […]
Dow plunges 850 points as Wall Street’s wild trading streak continues
Stocks plummeted on Wednesday in another volatile session as Wall Street worried about a possible fiscal stimulus package aimed at curbing slower economic growth due to the coronavirus outbreak. The Dow Jones Industrial Average traded 850 points lower, or more than 3%. The S&P 500 slid 3% while the Nasdaq Composite dropped 2.7%. Those losses […]
Trump wants big tax cut, NYC case count can’t keep up
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 118,101, according to data compiled by Johns Hopkins University. Global deaths: At least 4,262, according to data compiled by […]
Dow jumps more than 600 points after Wall Street’s biggest rout since 2008
Stocks rallied on Tuesday as Wall Street clawed back some of the massive losses suffered in the previous session. Bets on government intervention to stem the economic downturn from the coronavirus lifted equities. The Dow Jones Industrial Average traded 600 points higher, or 2.6%. The S&P 500 climbed 2.4% while the Nasdaq Composite advanced 2.6%. […]
Dow craters 1,400 points and S&P 500 down 5% amid oil price war
Stocks cratered Monday as investors grappled with the sinking price of oil and the spread of the coronavirus. The Dow Jones Industrial Average tanked 1,438 points, on pace for its worst day since Dec. 2008, while the S&P 500 plunged 5.3%. The massive sell-off triggered a key market circuit breaker minutes into the opening bell. Trading was halted for […]
Investors brace for more volatility as wild swings become ‘new normal’
Traders work during the opening bell at the New York Stock Exchange (NYSE) on February 28, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images The S&P 500 has never behaved like this, but Wall Street strategists say get used to it. Investors just witnessed the equity benchmark swinging […]
‘I don’t want to panic on policy measures’ related to coronavirus slowdown
Larry Kudlow, President Donald Trump’s chief economic advisor, told CNBC on Friday that he doesn’t want to “panic on policy measures” designed to combat the new coronavirus and said that U.S. growth remains strong. “We would prefer a targeted approach, a rather micro approach,” Kudlow said. “Let’s think about individuals who might lose paychecks because […]