Major indices plunge on Covid/election fear. Close near session lows

Big day tomorrow on the earnings front The major indices fell sharply on Covid/election fears. European countries imposed new restrictions. Case count continue to rise putting pressure on hospitals. A lack of a coronavirus stimulus deal in the US is also weighing. Finally, uncertainty about the upcoming election is also frightened traders. The volatility index (Vix index )rose […]

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Global dividend plunge to be worst since financial crisis

© Reuters. FILE PHOTO: Passersby wearing protective face masks are reflected on a screen displaying stock prices outside a brokerage in Tokyo By Marc Jones LONDON (Reuters) – The coronavirus crisis will see the world’s biggest firms slash dividend payouts between 17%-23% this year or what could be as much $ 400 billion, a new […]

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Trading, underwriting soften profit plunge for some U.S. banks

© Reuters. A combination file photo shows Wells Fargo, Citigbank, Morgan Stanley, JPMorgan Chase, Bank of America, JPMorgan, and Goldman Sachs from Reuters archive By David Henry NEW YORK (Reuters) – Trading and underwriting revenue could provide some comfort for big Wall Street banks that begin reporting results next week, although second-quarter profits likely plunged […]

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Record Plunge in Saudi Reserves Only Prelude to Looming Drawdown

© Reuters. Record Plunge in Saudi Reserves Only Prelude to Looming Drawdown (Bloomberg) — Saudi Arabia’s central bank depleted its net foreign assets in March at the fastest clip since at least 2000, showing the severity of the damage inflicted by the slump in oil prices even as the government is only starting to lean […]

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Daimler earnings plunge as coronavirus hammers vehicle sales, production

2/2 © Reuters. The spread of the coronavirus disease (COVID-19) in Germany 2/2 (Reuters) – German’s Daimler AG (DE:) said on Thursday it expected to report a near 70% plunge in a key first-quarter earnings figure, as demand for its Mercedes-Benz cars plunges amid the coronavirus pandemic. The virus outbreak has pummeled vehicle sales and […]

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Stocks plunge as Fed’s emergency rate cut fails to calm panic

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) after the opening bell of the trading session in New York By Wayne Cole SYDNEY (Reuters) – Stock markets and the dollar fell heavily on Monday, after emergency rate cuts in the United States and New Zealand failed to allay fears […]

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Airline stocks plunge as U.S. puts Europe in coronavirus quarantine

© Reuters. FILE PHOTO: Airplanes of German Carrier Lufthansa and United Airlines land and take off at Frankfurt Airport By Lisa Baertlein and Laurence Frost LOS ANGELES/PARIS (Reuters) – European airline stocks already battered by the coronavirus plunged again on Thursday, as a U.S. travel ban on much of continental Europe deepened the sector’s misery […]

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