10 year treasury yield hit a new record low below one and a quarter percent as investors clamor for safety Goldman Sachs is projecting 0 percent growth for the u. S. Companies this year given the severe decline in chinese Economic Activity disruption to the supply chain elevated Business Uncertainty and low demand for u. S. Exporters this is a drastic deviation from previous consensus which is still pricing in a 7 percent growth european equities to 3. 6 percent lower and officially entered correction territory with the cac the dax and the flat the all down but lets take a quick look at asia while the west is swimming in a sea of red the shanghai composite the hang thing and the cent and index are all positive china sports have reached a turning point as crane operators customer operators and other key logistic links begin to slot back into place turnaround times are starting to improve as the ports work to clear up the backlog official numbers continue to show a drop in new cases and
Continue to pump markets in to panic as the 1st case of unknown origin has been declared in the u. S. We are the latest flood to take a look at something called and then i pods and explain whether theyre about to trigger for the 1st time in history was the group of voters is what we dont mean youre fracturing of not just products but critically important medicine you go to live report so much to get through today so lets get started. And the panic plunge continues thursday as the optimistic dip buyers who stepped in yesterday got smoked Global Markets around the world are all in correction territory defined as being down 10 percent or more from their recent highs wiping off more than 3. 00 trillion dollars from Global Stock Markets given how fast this drop was many economists are pointing to the coronavirus as a true black swan event and a span of just 6 days the u. S. Market went from record highs to correction territory with the dow down over a 1000 points today over 3000 points for
Fair, orderly and efficient markets; and facilitate capital formation. It plays a Critical Role in ensuring that our nation has Capital Markets that the public can have confidence and trust in. It provides information to investors so that as americans prepare for their futures, they not only have a wide array of financial opportunities, but they also have the information necessary to make informed investment decisions. Chairman clayton, you came before this committee a year ago and assured us that you would continue to take steps to ensure that the u. S. Capital markets remain the deepest, most dynamic and liquid in the world. I commend you and the sec staff for the actions that have been taken over the past year. Actions worth mentioning include the secs final rule package on regulation best interest, which strikes the appropriate balance of increasing transparency in investors relationships, while preserving access to advice relationships and investment products. The sec also propose
Out to new highs deedra bosa has details on alphabet. Larry page stepping down as alphabet Ceo Sundar Pichai ceo both of google and alphabet in terms of day to day unlikely to see major changes which is why you may missouri not see a lot of change in the alphabet stock. Under google umbrella pichai ran advertising cloud devices, software he has been ceo since august of 2015 since then alphabet stock has soared relative broad are market but underperformed wig tap peerings remember the split from alphabet to google. Alphabet was the place where the moon shot including way missouri, selfdriefgt stores internet balloons and health care projects. Perhaps the question now is what happens to those moneylosin initiatives . Will we see more financial zmin under pichai and ruth porat from wall street mo has been known for financial dplin. As pichai steps up does he step away from those and the traditional businesses like advertising paying for them. Deirdre bosa wove been tweeting over this news
Members question the fcc chair about Digital Currency, shareholder protection and climate related financial disclosures. This is an hour and a half. Today we will receive testimony from security and Exchange Commission chairman regarding the wor they will testify hes going across the of the sec. I think if youre willingness to appear before the committee today. Mr. Clayton, youre willing to testify is essential to our mission at the sec, which is to maintain fair, orderly and efficient markets and facilitate capital formation. It plays a Critical Role and ensuring that our nation has Capital Markets so that the public can have confidence and trust in. It provides information to investors that that as americans prepare for the futures they may not only have a wide variety of financial opportunities, but they also have the information necessary to make informed Investment Decisions. Chairman clayton, you came before this committee a year ago with assures that you continue to take steps t