Wall Street slides as new coronavirus cases rise
U S stocks retreat with the S&P 500 down 2.6 percent as new infections climb to a two month high. Markets fall after New York New Jersey and Connecticut require quarantines for visitors from high risk states. Cruise lines casinos and airlines lead losses while majors stay volatile.
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Wall Street
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New York
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Connecticut
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J.J. Kinahan
TD Ameritrade
Cruise Line
Carnival
Royal Caribbean Cruises
Wynn Resorts
MGM Resorts International
Delta Air Lines
IMF Downgrades Global Growth Outlook Amid Pandemic
The IMF cuts global growth to a 4.9 percent contraction this year and US GDP to an 8 percent drop, warning the crisis could reverse decades of poverty reduction. A rebound is forecast for 2021 if a new wave does not strike, with US growth at 4.5 percent next year.
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Washington
International Monetary Fund
IMF
United States
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World Bank
Gita
Gopinath
Association of Economists
Bayer to pay up to 10.9B in Roundup settlement
Bayer plans to pay up to 10.9 billion dollars to settle Roundup litigation tied to Monsanto’s glyphosate. The deal covers about 125,000 claims, plus 1.25 billion for potential future cases, and 1.22 billion for related PCB in water and dicamba lawsuits. CEO Werner Baumann says action is financially reasonable amid legal risks.
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Ford F-Series outsells many by revenue second to iPhones
Boston Consulting Group analysis places Ford F-Series second to the iPhone in branded product sales with 2019 F-Series revenue at 42 billion, surpassing the NFL MLB NBA and NHL combined. Ford notes F-Series would be the 80th largest U.S. company by revenue.
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Eric Noble
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