Did we get hammered today . Because investors are finally starting to realize that the coronavirus is a very Destructive Force for economies. Dow plunges 228 points s p plummeted. Nasdaq, 1. 79 . As profit takers came out in forces, especially in big tech, recognizing the chinese economys going to go maybe offline. And going offline cant be good news for the United States the 30year treasury, well, it fell to record lows. That worries me. Yes, thats got to be a dangerous signal and not just a windfall for home buyers, right . All the action seems to el us the bad news out of china is finally translating into bad news almost a total delayed reaction. Should have been a week ago. Because our economy remains deeply intertwined with theirs so many of our companies rely on chinese suppliers for everything from trim, like in clothing, to buttons, essential medications, components, all sorts of technologies were really much more intertwined than people realize. I think were right to be worrie
Services sector has registered its 1st stop in activity since 2013 there was a notable worsening in the section of the United States economy that includes finance retail during february according to research by i. H. S. Markets there is also a slowdown in manufacturing house for its income is no surprise to us here part of the problem is the corona Virus Outbreak in china. Well lets get more on this from our correspondent on wall street jose luis de haro so jose what exactly is behind these disappointing figures. So truly rob born to corona virus are starting to take a toll in a manufacturing and Services Sectors here in the United States for starters does 737 max a crisis house have for just going to halt the plane production and could end up a shaving up to percentage point to u. S. Growth in the Current Quarter at these also affects both suppliers and airlines and speaking of airlines the industry its getting the heat on several fronts the 737. 00 max ground. Up at several routes ar
Vice chairman and theyll share what to do with your money amid this massive selloff. Lets have a look at whats driving the action the major averages falling into correction territory as the global brought yaoutbreak grows Goldman Sachs is warning that u. S. Companies may generate no Earnings Growth in 2020 based on the elevated uncertainty from the virus and oil prices are plunging on the fears with crude dipping below 46 per barrel at the moment the s p is down 2. 9 , dow almost 800 points. Joining us today is cnbc contributor stephanie link and senior markets commentator mike santoli. Ste steph, youre always looking for the bright side, the growth and optimistic picture we were talking earlier, both of us were talking earlier that this feels like december 24th, 2018, when we got the big swish down and it was really hard to buy then its really hard to buy now. But i can understand where we were selling off we were coming off of a much higher level now than we were in 2018, but it does
The australian treasurer says the Budget Surplus is now by no means certain. In the absence of u. S. Markets being online on account of the u. S. Holiday of Martin Luther king day, lets see how things are shaping up in asia. It looks like asian stocks are set up for an even open after the cosby closed at nearly record highs. 0. 3 right now. It looks like jitters in the oil market last week, we saw the signing of the u. S. China trees deal bolstering markets. Trade deal bolstering markets. Well see how markets are impacted by the sarslike virus that originated out of china but now sees cases in japan and south korea. The fund is predicting the World Economy will strengthen and 2020 but at a slower pace. On the economic calendar, we will be looking ahead to taiwans fourthquarter gdp data. Expecting taiwans economy to have grown. Japans of the bank of monetary policy, they are all expected to stay pat, after the fiscal stimulus. Officials may be looking for a slight uptick in terms of tho
Introduced an insidious reward system to coerce allegiance to the regime. Those who dont make it into the fun metropolis are often told and hungry. Have fun in pyongyang starts february 28th on d w. Wall street reacts to a rare stall in the u. S. Economy nobody Reliable Services sector posted its 1st drop in activity since 23rd team. The coronavirus is forcing many chinese to spend lots of time indoors but the situation has its winners. And in spain airbus has plans to cut hundreds of jobs every sympathy arias reaction. This is deja vu business on whats been learned long. U. S. Services sector has registered its 1st drop in activity since 2013 there was a notable worsening in the section of the United States economy that includes finance and retail joining february according to research by i. H. S. Market theres also a slowdown in manufacturing output because no surprise to us here part of the problem is the corona Virus Outbreak in china. Well lets get more on this from our correspond