Wall Street's three major stock indexes fell almost 2% on Tuesday as the coronavirus spread further around the world and officials described it as "a rapidly escalating epidemic," a day after the S&P 500 and the Dow Industrials' biggest daily decline in two years.
Goldman Sachs, Citigroup Inc, Credit Suisse and other investment banks have curbed trips to Italy amid fears that the coronavirus outbreak across the north of the country could quickly spread across Europe, sources said.
Oil fell below $56 a barrel on Tuesday, dropping for a third day, as concerns about the spread of the coronavirus and its impact on oil demand outweighed OPEC output cuts and Libyan supply losses.
Forever 21's new co-owner Authentic Brands Group said on Tuesday it had appointed former H&M executive Daniel Kulle as the new chief executive officer of the bankrupt apparel retailer.
JPMorgan Chase & Co executives tried to reassure investors on Tuesday that the bank can thrive during times of market and economic stress, due to the sheer size and breadth of its global operations.
The Federal Aviation Administration (FAA) on Tuesday proposed that airlines complete inspections on a key component that could make Boeing 737 MAX airplanes vulnerable to lightning strikes and interference from high-power radio frequency transmitters before returning to service.
Mallinckrodt Plc on Tuesday said it had agreed to a $1.6 billion settlement proposal in which its generic drug business would file bankruptcy in order to resolve thousands of lawsuits alleging it helped fuel the U.S. opioid epidemic.
| S&P » | 3,126.81 | -3.07% |
| Dow » | 27,057.39 | -3.23% |
| FTSE 100 » | 7,017.88 | -1.94% |
| Nikkei 225 » | 22,605.41 | -3.34% |
| US 10YR |
+1.332
|
-0.045 |
| DE 10YR |
-0.522
|
-0.010 |
| JP 10YR |
-0.090
|
+0.012 |
| USD / EUR » | 0.9189 | -0.24% |
| USD / GBP » | 0.7689 | -0.56% |
| USD / JPY » | 109.9800 | -0.66% |