Monday 27 January 2020

Daily Investor Update: Wall Street drops as virus stokes economic concerns

Reuters.com Newsletter

Wall Street drops as virus stokes economic concerns

U.S. stocks fell more than 1% on Monday as investors worried about the economic impact of a virus outbreak in China as containment efforts including travel bans have been put in place in the world's second largest economy after the country extended the Lunar New Year holiday.

'Buy the dip,' one stock options signal says

As concerns over the spread of the coronavirus rattle stocks, a corner of the options market is signaling that the current selloff may be short-lived.

Boeing secures more than $12 billion in financing amid 737 Max crisis: CNBC

Boeing Co has secured more than $12 billion in financing from more than a dozen banks, CNBC reported on Monday, citing people familiar with the matter.

J&J CEO questioned over stock sale ahead of story on asbestos in Baby Powder

Johnson & Johnson Chief Executive Alex Gorsky on Monday faced questions from plaintiffs lawyers over the timing of his sale of company stock, as he testified for the first time in a jury trial over allegations that the company's Baby Powder causes cancer.

Global stocks slide to two-week low on China virus fears, safe havens gain

Stocks markets tumbled worldwide on Monday and investors worried about the possible economic impact of the coronavirus drove up the price of safe-haven assets such as the Japanese yen and government debt.

German car supplier Webasto halts China corporate travel over coronavirus: spokeswoman

The German auto supplier Webasto has halted all corporate travel to and from China because of the coronavirus outbreak and the infection of an employee, a spokeswoman for the company said on Monday.

U.S. stock rally faces major test as China virus spreads

The latest rally in U.S. stocks is facing a serious test, as the S&P 500 heads toward its worst loss in months on concerns over how the coronavirus will impact the global economy.

Task force pushes U.S. lawmakers to strengthen insider trading rules

A group of former U.S. officials and lawyers is urging Congress to strengthen and clarify law around insider trading that has "generated confusion" and "failed to keep up with the times."

Canada kicks off USMCA ratification process, urges bi-partisan co-operation

Canada's minority Liberal government kicked off the ratification process for a new continental trade pact on Monday and urged opposition lawmakers to formally approve the deal as quickly as possible.

Oil falls 2% to three-month lows as China virus raises demand fears

Crude prices dropped 2% to three-month lows on Monday as the death toll from China's coronavirus grew, clamping down on travel and fueling expectations of slowing oil demand.

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