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Crude Oil falls on Fear...

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Oil markets continued to head south Wednesday, with U.S. crude futures tumbling to a near 18-year low as travel and social lockdowns sparked by the coronavirus epidemic knocked the outlook for demand. AT 9:00 AM ET (1300 GMT), U.S. crude futures traded 8.7% lower at $24.94 a barrel, its lowest since May 2002. The international benchmark Brent contract fell 5.2% to $27.23, its lowest since May 2003. The battleground against the virus has moved from Asia to Europe and America. Deaths have continued to soar in Italy and Spain, prompting the European Union to ban travellers from outside the bloc for 30 days in an unprecedented move to seal its borders. Travel within Europe has also been severely limited by public health measures closing most non-essential business activity. The Trump administration has recommended the closure of restaurants, bars and schools while assembling a $1.2 trillion stimulus plan that would shortly send cash to Americans, and backstop airl...
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Markets Consolidate and Keep Gains.

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http://www.authorstream.com/ericavillalon/ U.S. stock markets turned negative on Tuesday as President Donald Trump renewed his pressure on the Federal Reserve to cut interest rates further, hitting financial stocks in particular.   By 10:10 AM ET (1410 GMT), the Dow Jones Industrial Average was up 97 points, or 0.4%, at 24,319 points, while the S&P 500 and the Nasdaq Composite were both slightly down. "As long as other countries are receiving the benefits of Negative Rates, the USA should also accept the “GIFT”. Big numbers!" Trump tweeted.  JPMorgan (NYSE: JPM ) stock fell 1.0% while Bank of America (NYSE: BAC ) stock fell 0.9% and Citigroup (NYSE: C ) stock fell 0.8%, reversing early gains, amid fear that even lower official interest rates will squeeze their profit margins as has been the case in other countries where the strategy has been tried, such as the euro zone and Japan. Bank stocks had opened marginally higher, reassured by comme...
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US China Tensions with Tik Tok...

https://dz.wordpress.com/tag/erica-villalon/ Wall Street was set to pull back on Tuesday as President Donald Trump's moves to force China-owned TikTok into a sale of its U.S. operations drew a sharp rebuke from Beijing, ratcheting up tensions as the world slides into a pandemic-fueled recession. Friction between the world's top two economies took a back seat in the first half of 2020 as the COVID-19 pandemic crushed global growth, and an escalation now would hamper the recovery of some exporters and importers and fan fears of a deeper economic slump. With  Microsoft Corp  (O: MSFT ) looking to buy short-video app TikTok's U.S. operations, Trump said on Monday the U.S. government should get a "substantial portion" of any deal price. On Tuesday, state-backed newspaper China Daily said the country will not accept the "theft" of the technology company. Microsoft's shares were down 1.6% in premarket trading after surging more than 5% on Monday as the comp...
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