Microsoft co-founder Bill Gates is stepping down from the company’s board to spend more time on philanthropic activities. He says he wants to focus on global health and development, education and tackling climate change. One of the world’s richest men, Mr Gates, 65, has also left the board of Warren Buffett’s massive holding company, Berkshire […]
US & Asian Stocks drop after Trump speech disappoints investors
Futures contracts tied to the major U.S. stock indexes fell early Thursday after an address from President Donald Trump failed to quell concerns over the possible economic slowdown from the coronavirus. The move comes after the Dow Jones Industrial Average ended its historic 11-year bull market run by closing in a bear market. As of […]
Fed cuts rates by 50 basis points in emergency move
The Federal Reserve, in a surprise move, cut its benchmark interest rate by 50 basis points. The move comes amid increasing unease over the economic effects from the novel coronavirus spread. The Federal Reserve announced an emergency rate cut Tuesday of half a percentage point in response to the growing economic threat from the novel […]
Coronavirus wiped out $3.18 trillion in the stock market this week
The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices. The S&P 500 lost $203 billion in value on Friday, according to estimates from S&P Dow Jones Indices. Friday’s losses bring the weekly total for U.S. stocks to $3.18 trillion, the firm’s Senior Index […]
Gold surges at 7-year high on growing coronavirus concerns
Gold rose 1% on Friday to its highest in seven years as the spread of the coronavirus intensified concerns about its impact on economic activity and global growth, increasing the metal’s safe-haven appeal. Spot gold rose 0.9% to $1,633.46 per ounce as of 1027 GMT, after hitting its highest since Feb.14, 2013 at $1,635.98 earlier […]
