Mortgage rates mixed as virus fears deepen markets
U.S. long term mortgage rates edged higher with the 30 year loan at 3.36 percent while the 15 year fixed fell to 2.77 percent as investors flee stocks for Treasurys amid coronavirus anxiety. The Dow slid into bear market territory and weekly jobless claims fell slightly, signaling labor markets hold for now. Starbucks warns some stores may switch to drive thru only or limit inside visits as WHO declares a pandemic with temporary store closures possible.
MENTIONED IN THIS ARTICLE
Washington
U.S
Freddie Mac
U.S. Treasurys
Treasury
Wall Street
Dow Jones
Starbucks
Canada
World Health Organization
Kevin Johnson
Johnson
Seattle
Ban on European visitors adds to travel industry pain
President Donald Trump imposed a 30 day ban on most Europe an visitors entering the United States triggering widespread disruption across airlines and travel related businesses. The restriction excludes returning Americans and UK citizens and comes as travel demand collapses amid broader border controls and virus fears. Airlines cut schedules especially on international routes while hotels car rentals museums and restaurants brace for impact.
MENTIONED IN THIS ARTICLE
Donald Trump
United States
United Kingdom
Trump
Global Airlines
Asia
Jean-Michel
Christiane Deaux
America
New Orleans
Jean-Michel Deaux
Europe
FlightAware
U.S
International Airline Travelers Association
Italy
Oval Office
China
European Union
Neiman Marcus ends most Last Call stores to focus on luxury
Neiman Marcus will close more than half of its Last Call off-price stores and cut about 500 jobs over eight months to refocus on high end customers. The Dallas retailer will merge online and store teams, rebranding sales staff as trusted client advisers who assist with dining, beauty, wardrobe styling, and other services. It also plans to sell two Texas distribution centers and faces economic uncertainty from the pandemic.
MENTIONED IN THIS ARTICLE
New York
Neiman Marcus
Last Call
Neiman Marcus Group
Geoffrey van Raemdonck
Associated Press
van Raemdonck
File
Miami
AP Photo
Alan Diaz
Iran seeks five billion IMF loan to fight virus spread
Iran has asked the IMF for a 5 billion dollar emergency loan as the coronavirus outbreak worsens, with over 10,000 confirmed cases and 429 deaths. Health officials report 75 deaths and 1,000 new infections in 24 hours while Zarif urges IMF action and Western sanctions relief to aid medical supplies. The World Health Organization delivered testing kits and gear as Iran seeks aid amid sanctions impacting imports and travel.
MENTIONED IN THIS ARTICLE
Tehran
Iran
International Monetary Fund
Kianoush Jahanpour
Mohammad Javad Zarif
IMF
Abdolnasser Hemmati
Kristalina Georgieva
Zarif
World Health Organization
U.S
Also Mentioned on This Page
Labor Department
Paine Field
Everett
Wash
Boeing
Ted S. Warren
The
Texas
World Health
Islamic Republic
Kamran Jebreil
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