U.S. Treasury Secretary Steven Mnuchin said Wednesday a robust economic stimulus won’t be able to pass Congress quickly and threw his support behind a smaller measure designed to help small businesses and workers grappling with the coronavirus outbreak. “The president very much wants to consider a stimulus bill, whether it …
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The Coachella Valley Music and Arts Festival, one of the largest music festivals in the country, will be postponed due to the coronavirus outbreak. The festival in Indio, Calif., was scheduled to take place April 10-19, but will be pushed back to Oct. 9-18, the organizers announced late Tuesday. The …
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President Donald Trump on Monday blamed Saudi Arabia and Russia’s dispute over oil prices, plus what he called “fake news,” for steep stock-market losses, as he was set to be briefed on policy options for responding to the coronavirus. The main U.S. stock indexes DJIA, -4.82% SPX, -4.75% COMP, -4.36% …
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Passengers waiting to travel home relax aboard the MS Westerdam off of Sihanoukville, Cambodia, last month. The large cruise ship with more than 2,000 crew and passengers was completely free from the Coronavirus (COVID-19.) but was turned away from five other Asian locations. Getty Images Have you planned a cruise? …
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Nassim Nicholas Taleb, whose book “The Black Swan” foreshadowed the 2008 global financial crisis, responded to Elon Musk’s tweet about what he called a panic over the coronavirus with a brief lesson on probability and human endurance over the millennia. “[T]he coronavirus panic is dumb,” Musk, the CEO of SpaceX …
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U.S. airline stocks have been slammed as companies cancel all but urgent travel and avoid regions with high numbers of cases of the coronavirus COVID-19, but investors say the reaction may be overdone. The selloff is purely motivated by fear, said Michael Matousek, head trader at investment manager U.S. Global …
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U.S. stocks finished lower Friday, but after a volatile session that saw the Dow recover about half of the day’s losses and even notch a gain for the week as investors watched cases of COVID-19 climb above 100,000 globally while and oil prices tumbled by the most in five years. …
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Bowing to immense pressure amid the spread of COVID-19, the city of Austin canceled the South By Southwest conference late Friday, a week before the event was set to begin. “I have declared a local disaster in the city, and associated with that, I have issued an order that cancels …
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When the World Health Organization declared the coronavirus an international public health emergency in late February, financial experts wondered how severe the economic consequences would be. They didn’t need to wonder for long, as the stock markets went into a tailspin just as the first cases of coronavirus started to …
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