Tesla Inc.’s factory and other California operations will remain open in spite of a San Francisco Bay Area lockdown, with Elon Musk telling employees he will keep going in to work despite the spread of the coronavirus.
Author: Bloomberg News
Stocks Plunge 12% in Biggest Rout Since 1987
The stomach-turning ride on global financial markets took a dramatic turn March 16, with U.S. stocks plunging the most since 1987 after President Donald Trump warned the economic disruption from the virus could last into summer.
Stock Futures Tumble Despite Fed Interest Rate Cut to Near Zero
U.S. stock futures tumbled, wiping out half of the furious last-hour rally March 13 and tripping exchange trading curbs, as investors worried that emergency measures by the Federal Reserve will fall short of cushioning the coronavirus’ blows to the economy.
Trump Orders US to Stock Up Oil Reserve After Price Crash
President Donald Trump ordered U.S. energy officials to purchase “large amounts” of oil to fill up the nation’s emergency reserve after the biggest price crash in a generation.
House Passes Coronavirus Plan With Two-Week Paid Sick Leave, Free Testing
The House of Representatives passed an economic relief plan backed by President Donald Trump to deal with the spreading coronavirus as part of what lead negotiator Speaker Nancy Pelosi said will be a continuing effort to help the American people.
Trump to Declare National Emergency to Speed Virus Response
President Donald Trump plans to declare a national emergency March 13 over the coronavirus outbreak, invoking the Stafford Act to open the door to more federal aid for states and municipalities, according to two people familiar with the matter.
Texas Shale Heartland Rattled by Coronavirus, Oil Price War
Just a week ago, when crude oil prices fell to $46 a barrel, the mayor of the biggest city in the world’s largest shale oil patch seemed oddly calm, almost relieved.
Stocks Sink in Worst Day Since 1987
U.S. stocks tumbled, with benchmark gauges posting their worst drop since 1987, as investors signaled the Federal Reserve’s extraordinary bond-buying measures, and President Donald Trump’s economic proposals, won’t be enough to counter the economic impact from the coronavirus.
Stocks Sink in Worst Day Since 1987
U.S. stocks tumbled, with benchmark gauges posting their worst drop since 1987, as investors signaled the Federal Reserve’s extraordinary bond-buying measures, and President Donald Trump’s economic proposals, won’t be enough to counter the economic impact from the coronavirus.
OPEC+ Talks Collapse, Threatening Russia-Saudi Oil Alliance
OPEC+ talks ended in dramatic failure, signaling the possible end of a diplomatic alliance between Saudi Arabia and Russia that has underpinned crude prices and changed the balance of power in the Middle East.