Author: Alex Veiga
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Energy prices soar to levels not seen in years as Iran names new supreme leader and digs in
Oil prices spiked near $120 per barrel before falling back Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets. The price for a barrel of Brent crude, the international standard, surged to $119.50 per barrel early in the day but later was trading near $106 per…
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Oil’s chaotic collapse deepens; stocks drop worldwide
NEW YORK • Oil prices crumpled even further Tuesday, and U.S. stocks sank to their worst loss in weeks as worries swept markets worldwide about the economic carnage caused by the coronavirus pandemic. The market’s spotlight was again on oil, where prices have plummeted because very few people are flying or driving, and factories have…
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Stocks sink, bonds soar on fears virus will stunt economy
Stocks fell sharply again Tuesday, piling on losses a day after the market’s biggest drop in two years as fears spread that the growing virus outbreak will put the brakes on the global economy. Nervous investors snapped up low-risk U.S. government bonds, sending the yield on the 10-year Treasury note to a record low. The…
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Dow drops more than 1,000 as outbreak threatens the economy
The Dow Jones Industrial Average slumped more than 1,000 points Monday in the worst day for the stock market in two years, as investors worry that the spread of a viral outbreak that began in China will weaken global economic growth. Traders sought safety in U.S. government bonds, gold and high-dividend stocks like utilities and…
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Once-counterculture 420 marijuana holiday goes mainstream
LOS ANGELES — Potheads have for decades celebrated their love of marijuana on April 20, but the once counter-culture celebration that was all about getting stoned now is so mainstream Corporate America is starting to embrace it. No, Hallmark doesn’t yet have a card to mark “420.” But many other businesses inside and outside the…
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More volatility: US stocks extend gains after early wobble
U.S. stocks rebounded after an early wobble Friday afternoon, building on gains from a two-day winning streak in a week of volatile trading. Gains in health care stocks and banks outweighed losses in energy companies, which fell despite a gain in the price of oil. KEEPING SCORE: The S&P 500 index rose 14 points, or…
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U.S. stocks plunge before Christmas
President Donald Trump’s attack on the Federal Reserve spooked financial markets on Christmas Eve, raising fears about an uncertain future should the White House try to undermine or remove the head of the U.S. central bank. Treasury Secretary Steven Mnuchin calls to the top executives at six major banks Sunday in an attempt to stabilize…
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S&P 500 slides into ‘correction’ for second time this year
U.S. stocks closed lower after a shortened session Friday, bumping the benchmark S&P 500 index into a correction, or drop of 10 percent below its most recent all-time high in September. Energy companies led the market slide as the price of U.S. crude oil tumbled to its lowest level in more than a year, reflecting…
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Stock market experts say this is a stumble, not a plunge
Whoa — what was that? After months of relative calm, Wall Street has been jolted by a sudden run of turbulent trading. The swoon wiped more than 1,300 points from the Dow Jones Industrial Average over two days and dragged the benchmark S&P 500 index down more than 5 percent. The VIX index, which measures…
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Dow industrials drop 600 points, extending a weeklong slump
U.S. stocks slumped Friday, pulling down the Dow Jones industrial average by more than 600 points and placing the market on track for its worst week in two years. Technology and energy stocks accounted for much of the broad slide as several major companies, including Exxon Mobil and Google’s parent company, Alphabet, sank after reporting…