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Tag: week

The Dow just lost 12% in one week. Here’s why and what likely happens next

The Dow just lost 12% in one week. Here’s why and what likely happens next

Finance
The U.S. stock market suffered a historic pullback this week as the coronavirus spread outside of China, spooking investors and traders out of equities.The Dow Jones Industrial Average and S&P 500 each dropped 12% and 11% for the week, respectively, marking their worst weekly performance since the financial crisis. The 30-stock Dow posted its biggest one-day points loss ever on Thursday. It also tumbled deep into correction territory, down more than 10% from a record high, along with the S&P 500 and Nasdaq Composite.Wall Street's historic shake-up came as worries grew over the coronavirus' impact on the global economy and corporate profits. The number of new cases in China kept rising this week, while the number of people contracting the virus spiked in South Korea and Italy. This ...
All state, local labs in U.S. to have COVID-19 tests by next week, CDC says

All state, local labs in U.S. to have COVID-19 tests by next week, CDC says

Health
Feb. 28 (UPI) -- All state and local public health laboratories across the country will have the capability to test for COVID-19 by the end of next week, U.S. Centers for Disease Control and Prevention officials said Friday. The announcement comes as officials face criticism over shortages of working test kits in several states with hundreds of suspected cases of the virus, most notably California. UPI reported Thursday that California currently has 8,400 state residents under self-quarantine but only 200 kits available to test for the virus. According to Nancy Messonnier, director of the agency's National Center for Immunization and Respiratory Diseases, states that received kits as part of the initial batch distributed two weeks ago will be able to use them under a modified testing pro...
Coronavirus: Shares face worst week since global financial crisis

Coronavirus: Shares face worst week since global financial crisis

Business
Stock markets across the globe are suffering their worst week since the global financial crisis of 2008 as fears over the impact of the coronavirus continue to grip investors.Markets in Europe fell sharply on Friday morning, with London's FTSE 100 index sinking more than 3%.Asian markets saw more big falls, while in the US, the Dow Jones recorded its biggest daily points drop on Thursday.Investors are worried the coronavirus impact could spark a global recession.The news of more coronavirus cases, notably in Italy, has raised concerns of a much larger economic effect than previously expected. In an interview with Sky News, Bank of England governor Mark Carney warned that the coronavirus outbreak could lead to a downgrade of the UK's economic growth prospe...
How Sensex, gold, 10-year G-sec performed for week ending Feb 20, 2020

How Sensex, gold, 10-year G-sec performed for week ending Feb 20, 2020

Finance
This weekly tracker keeps you updated on the benchmark stock index, gold prices, bond yields and inflation. It also tracks the changes in the past one year to give investors an idea how their investments performed over a longer period. Investors were pessimistic due to the lack of buying triggers, lackluster global markets, depreciating rupee and persistent capital outflows. Gold price (Rs) Gold prices gained on worries of global economic growth due to rising coronavirus infections and speculations of monetary policy easing by the Federal Reserve. Bond yields were little changed as investors remained cautious due to the rising Brent oil prices and weak Asian currencies. CPI continued to remain above the RBI's tolerance level for the second month in a row due to surging food...
Steven Gerrard signs new Rangers contract less than a week after narrowly losing to Celtic in League Cup final

Steven Gerrard signs new Rangers contract less than a week after narrowly losing to Celtic in League Cup final

Sports
Steven Gerrard has signed a new contract with Rangers running until the summer of 2024, the Scottish Premiership club have confirmed. Gerrard, the Liverpool legend, guided the Gers to a second-placed finish in the Premiership last season, in what was his first ever campaign as a manager. Getty Images - Getty Steven Gerrard is happy in Glasgow And he was unlucky to not win his first piece of silverware at Ibrox last weekend, with his side narrowly losing to Celtic in the League Cup final largely due to the heroics of goalkeeper Fraser Forster, who saved a penalty from Alfredo Morelos. And his fine work north of the border has been rewarded with a new deal running until 2024. ā€œIā€™m delighted to be extending my stay at this fantastic football club,ā€ said