US government announces 10% stake in chipmaker Intel - BBC

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1. US government announces 10% stake in chipmaker Intel  BBC
2. White House announces chipmaker Intel to give US government 10% stake  BBC
3. Trump says Intel has agreed to give US government a 10% stake  The Guardian
4. US to take 10% equity stake in Intel, in Trump's latest corporate move  Reuters
5. Intel Agrees to Sell U.S. a 10% Stake in Its Business  The New York Times

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2025-08-22 22:27:03Z
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Global stocks rally as Jerome Powell hints at interest rate cut - The Times

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1. Global stocks rally as Jerome Powell hints at interest rate cut  The Times
2. Jay Powell paves the way for Federal Reserve interest rate cut in September  Financial Times
3. Fed chair Powell boosts expectation of US rate cut  BBC
4. Federal Reserve set to cut interest rates – but still Trump won’t be happy  The Guardian
5. Stock market today: Dow jumps 800 points to record, S&P 500, Nasdaq soar as Powell's Jackson Hole finale fuels bets on September rate cut  uk.finance.yahoo.com

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2025-08-22 15:51:57Z
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‘Hopelessly insolvent’: how ‘saviour of steel’ Sanjeev Gupta’s global empire unravelled - The Guardian

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1. ‘Hopelessly insolvent’: how ‘saviour of steel’ Sanjeev Gupta’s global empire unravelled  The Guardian
2. UK's third-largest steelworks collapses into government control  BBC
3. Government prepares to take over UK's third-largest steelworks  BBC
4. 'Today is payday': Union warns wages for workers at liquidated steel company must be a priority  Sky News
5. Government supporting four out of six of UK’s steel companies  Financial Times

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2025-08-22 21:40:00Z
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Stocks Tumble Into Correction Territory On Coronavirus Fears - NPR

Stocks continued their downward slide on Thursday, with major indexes falling into correction territory. Investors are worried about the economic toll of a widening coronavirus epidemic.

The Dow Jones Industrial Average tumbled more than 500 points in the opening minutes of trading. The blue chip index is down more than 10% from its recent peak on Feb. 12. The broader S&P 500 index has also lost more than 10% of its value in just over a week.

President Trump tried to project a note of calm in a news conference Wednesday evening, stressing that the United States is well prepared for any health crisis and predicting the stock market will recover, thanks in part to robust consumer spending. But investors were not immediately reassured.

A poll by Morning Consult this week found that 69% of U.S. adults are either "very" or "somewhat" concerned about the domestic economic impact of the epidemic, a 14 point increase from a few weeks ago.

Health officials also reported the first known case of coronavirus in the U.S. with no apparent link to China or other sources, suggesting that the virus may be spreading domestically.

The steep drop in financial markets could put a dent in consumer confidence and spending — a major driver of the U.S. economy. It may also increase pressure on the Federal Reserve to lower interest rates. On Tuesday, the central bank's vice chairman, Richard Clarida, said the Fed is monitoring the outbreak closely but he cautioned it's too soon to assess the economic effects.

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2020-02-27 15:02:00Z
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Dow tumbles into correction territory for the first time in 2 years as coronavirus outbreak slams stock market - MarketWatch

The stock market opened sharply lower Thursday morning, pushing the Dow Jones Industrial Average to its first correction in more than two years as investors around the world continued to flee equities amid the rapid spread of COVID-19, the infectious illness that reportedly originated in Wuhan, China late last year and has sickened tens of thousands. The Dow DJIA, -3.07% fell 517 points, or 1.9%, at 26,440, the S&P 500 index SPX, -3.00% fell 2% at 3,054, also not far from correction below 3,047.53. The Nasdaq Composite Index COMP, -3.50% declined 2.7% at 8,735. A correction is traditionally defined as a drop of at least 10%, but not more than 20%, from a recent peak. The last time the Dow entered correction was December of 2018, according to Dow Jones Market Data.

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2020-02-27 14:34:00Z
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Coronavirus is threatening to end the world air-travel boom - CNBC

Foreign travelers wearing masks walk past a departures information board at Beijing International Airport in Beijing, China as the country is hit by an outbreak of the new coronavirus, February 1, 2020.

Jason Lee | Reuters

The rapid spread of the new coronavirus is testing airlines and other travel companies with a risk that had been nearly unthinkable over the past decade: a broad decline in travel demand.

Air-travel demand had been growing at twice the pace of the global economy, but that bright spot is now at risk. U.S. airlines and other travel stocks have tumbled more than the broader market in this week's rout as big conferences were canceled and fears grew that customers may just opt out of trips because of the spreading COVID-19 outbreak.

The issue caps a difficult year for airlines that have been grappling with the nearly yearlong grounding of the Boeing 737 Max. Carriers need demand to stay robust, particularly in the lucrative spring and summer travel seasons, and analysts are warning that that looks unlikely.

The NYSE Arca Airline Index, which tracks 16 carriers in North America, Latin America and budget carrier Ryanair, has dropped more than 15% this week as of Wednesday's close, putting it on pace for its biggest weekly percentage loss since March 2009 — during the last recession. American Airlines shares on Wednesday closed the lowest since before its 2013 merger with US Airways and United Airlines, which suspended its full-year guidance this week because of the virus, fell to a more than two-year low.

"Every day we think we could be near a bottom, and every day we are not," Cowen airline analyst Helane Becker said in a note Thursday.

Deutsche Bank on Thursday downgraded American, Alaska, Delta, Spirit, JetBlue and United stocks to hold from buy, saying it "is becoming increasingly more likely that the spread of COVID-19 will disrupt travel patterns beyond China."

More than 81,000 people have been sickened with coronavirus and new cases are rising outside of China, where most of the cases have been reported. The Centers for Disease Control and Prevention on Wednesday advised the public to avoid all nonessential travel to South Korea. Saudi Arabia it will temporarily suspend the entry of foreigners for pilgrimage and tourism purposes.

Airlines have already canceled more than 200,000 flights, mostly to, from and within China because of the virus. Now they are mulling other changes. Delta slashed its service to South Korea, home to the largest outbreak outside of China, to 15 weekly flights from 28. All three major U.S. airlines have suspended flights to mainland China and Hong Kong and waived cancellation and change fees for China and South Korea as demand collapsed.

U.S. airlines, which historically have experienced boom-and-bust cycles, have just posted their 10th consecutive year of profitability, but their future performance will hinge on whether demand declines sharply in the U.S.

Social media's effect

Some carriers are already preparing for flyers too worried to travel. The last global outbreak of this scale was SARS just under a decade ago, but the fast spread of information could lead travelers to change their plans more quickly now, analysts said.

"We didn't have Facebook and Twitter," said Darryl Genovesi, airline analyst at Vertical Research Partners.

The CDC on Wednesday reported the first possible case of "community transmission" of the coronavirus. The Northern California resident had no travel history or contacts that would have put the person at risk, the CDC said. While the number of confirmed cases in the U.S. is still relatively low, some airlines are preparing for passengers to be too scared to travel.

JetBlue Airways in a surprise move Wednesday, said it would waive fees for travelers who want to cancel or change the date of tickets they buy from Thursday through March 11, a measure that pressures other U.S. airlines to follow suit.

"The risk here for airlines is this triggers a broad slowdown in travel," said Samuel Engel, head of the aviation practice at consulting firm ICF. "Airlines are by their nature diversified enterprises. They can withstand a loss of traffic on a single route or region but where the airlines get hit is when the fear makes people cancel or postpone trips."

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2020-02-27 14:45:00Z
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Dow futures plunge nearly 400 points on fears the coronavirus could be spreading to the US - USA TODAY

Jessica Menton USA TODAY

Published 9:09 AM EST Feb 27, 2020

Stock futures tumbled Thursday as fears mount that the deadly coronavirus could be spreading to the U.S. as the number of worldwide cases top 81,000.

Dow futures dropped nearly 400 points while Standard & Poor’s 500 futures slumped 1.5%.

Heading into Thursday, both averages were teetering on the brink of a correction, generally defined as a decline of 10% from a recent high. The Dow Jones industrial average is off 8.8% from its Feb. 12 record while the S&P 500 index was just under 8% off its all-time high reached Feb. 19. 

President Donald Trump announced late Thursday the U.S. was stepping up its efforts to combat the virus outbreak. Shortly after Trump spoke, the government announced that another person in the U.S. was infected — someone in California who appears not to have the usual risk factors of having traveled abroad or being exposed to another patient.

“The efforts by Trump to calm the markets are being overshadowed by the news from the CDC of a possible transmission of the virus in the U.S.,” Peter Cardillo, chief market economist at Spartan Capital Securities, says in a note. “We continue to recommend staying cautious.”

Coronavirus fears spook stocks: Here's how to protect your 401(k)

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Investors have been shifting money from stocks into safe havens like bonds and gold in the wake of the outbreak.

The yield on the 10-year Treasury, a closely watched barometer for the U.S. economy, hit a fresh record low, sliding to 1.27% Thursday, down from 1.34%. The yield on the 3-month Treasury bill edged up to 1.51%. The inversion in the yield between the 10-year and the 3-month Treasurys is a red flag for investors because it has preceded the last seven recessions.

Gold climbed $7.60 to $1,650.70 per ounce.

Germany’s DAX lost 2.2% and the CAC 40 in Paris dropped 2.3%. In London, the FTSE 100 lost 2.5%. Japan’s Nikkei 225 index lost 2.1% while in Australia, the S&P ASX/200 dropped 0.8%. Hong Kong’s climbed 0.3% to 26,778.62.

The Associated Press contributed to this report. 

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2020-02-27 14:03:45Z
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