US stocks have fallen as dismal economic and first-quarter earnings reports compounded concerns over the extent of damage from the coronavirus outbreak. Shares of Bank of America and Citigroup Inc dropped as they joined JPMorgan Chase & Co and Wells Fargo & Co in reporting a slump in first-quarter profits. […]
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Record falls in activity, confidence: NAB
Measures of Australian business and consumer sentiment suffered their steepest falls on record in March as whole sectors of the economy were shut down to stem the coronavirus, likely tipping the country into its first recession in three decades. National Australia Bank’s index of business conditions dived to -21 in […]
Wall St falls on dour earning expectations
Wall Street’s main indexes have slipped amid expectations of a painful US quarterly earnings season due to the coronavirus pandemic. JPMorgan Chase & Co and Wells Fargo & Co will kick off the reporting season on Tuesday, with analysts expecting an uptick in trading revenue to be offset by declines […]
Oil falls more than $US1 as demand falls
Oil prices lost more than $US1 a barrel overnight as restrictions on travel worldwide slashed fuel demand. US crude futures plunged more than six per cent after the United States scrapped plans to buy domestic oil for its emergency reserve. The head of the International Energy Agency said global oil […]