 | | | | U.S. stocks deepened their selloff on Wednesday and the Dow effectively erased the last of its gains since U.S. President Donald Trump's 2017 inauguration, as repercussions of the coronavirus pandemic threatened to cripple economic activity. | | | | | | As Wall Street extended its deep sell-off on Wednesday over fears about the coronavirus, the Dow Jones Industrial Average erased the last of the once sizeable gains it made under U.S. President Donald Trump. | | | | | | The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, industry officials said. | | | | | | Shares in U.S. airlines fell sharply on Wednesday after Washington proposed a rescue package of $50 billion in loans, but no grants as the industry had requested, to help address the financial impact from the deepening coronavirus crisis. | | | | | | Jeweler Pandora A/S said on Wednesday it has temporarily closed all its physical owned- and operated-stores in Italy, Spain, France, Germany and the United States, among other places, in line with government guidelines amidst the coronavirus outbreak. | | | | | | Royal Dutch Shell Plc will temporarily suspend construction activities on a multi-billion dollar ethane cracker being constructed along the Ohio River in Beaver County, Pennsylvania, amid concerns about coronavirus spreading, the company said in a statement late Wednesday. | | | | | | JPMorgan Chase and Co will temporarily shut about 1,000 bank branches, roughly 20%, to protect employees and reduce the spread of the coronavirus, according to a memo the bank sent to employees Wednesday. | | | | | | Oil prices plunged on Wednesday, with U.S. crude futures hitting an 18-year low, as governments worldwide accelerated lockdowns to counter the coronavirus pandemic. | | | | | | Oil and gas companies around the world aim to slash spending as crude prices have plunged due to the impact of the coronavirus and a push by Saudi Arabia and Russia to ramp up output. [O/R] | | | | | | Simon Property Group Inc , America's biggest mall operator, said on Wednesday it would temporarily close all its retail properties, including the Forum Shops at Caesars Palace in Las Vegas, to tackle the fast-spreading coronavirus. | | | | | | Global equities tumbled anew on Wednesday, with bond and gold prices also falling in an unusual tandem, as markets grappled with the scale of government programs aimed at softening the economic shockwave from the coronavirus. | | | | | |
