Well, the jobless figures and the economic outlook seem pretty bleak for the coming few quarters amid coronavirus, here is how the market is reacting to the situation. Is any further damage already priced-in?On Thursday, March 26, Dow Jones surged 6.38% closing the day 1351 points higher at 22,552 levels. This has been the index’s biggest 3-day surge since 1931. Just in the last three days, Dow has added nearly 4000 points to its rally.However, it was all surprising to see the markets rally despite the economy figures being worrisome. For the week ending March 21, the figure of unemployed jobless Americans just shot to a massive 3.3 million. With this, America has set a new record surpassing the 1982 recession figures as per Thursday’s report.On the other hand, the COVID-19 cases have been

Dow Jones has seen a path to recovery after the Federal Reserve announced major stimulus measures on Monday. Here’ a look at how this fiscal stimulus might help to overcome the existing economic challenges.On Monday, March 23, the White House and the Senate agreed to introduce a stimulus package to combat this economic meltdown caused due to the coronavirus pandemic. Soon after, the markets showed a renewed sense of optimism.On Tuesday, the Dow Jones Industrial Average surged over 10% moving past 20,000 levels. While Wednesday’s rally was not so intense, Dow Jones still closed with over 2% positive. This was for the first time after February that Dow Jones registered positive gains on two consecutive days.No doubt, the market is still showing some volatility as stocks of top-tech companies

While Apple stock has corrected nearly 32% in just the last month, analysts point out at its strong fundamentals and multiple revenue streams and say it is a good bet at the existing valuations.On Tuesday, March 24, the U.S. stock markets recovered significantly after some fiscal stimulus measures the previous day. Smartphone giant Apple Inc (NASDAQ: APPL) also showed yesterday a solid 10% plus recovery with the company reclaiming its trillion-dollar valuations. On Tuesday closing, the Apple stock was trading at a price of $246 with a market cap of $1.08 trillion. Though today, AAPL was falling in the pre-market, when the market was opened, it started to gain. At the moment of writing, the stock is trading at $253.13 (+2.53%).In just over a month’s time, Apple lost nearly 31% of its

The fiscal stimulus bill presented by the Trump government failed to receive a key Senate vote and was halted from passing. The Democrats said that the bill did little to help out workers and more to bail out companies.The coronavirus pandemic continues to hit the global markets and the number of infected cases is on a steep rise. The U.S. Stock futures plunged in the early morning on Monday as Wall Street awaits an economic stimulus from the Trump government.Today, early morning 6 am, the Dow Jones Industrial Average plunged nearly 600 points. Similarly, the Nasdaq 100 and the S&P 500 futures also registered sharp losses. Falling 5% in the early morning trade, the future indices also hit the “limit down” levels.These downside limits are to ensure that the market behaves in an orderly

All eyes are on Bitcoin halving scheduled in mid-May 2020 to retrieve the lost glory of Bitcoin. Amid the COVID-19 outbreak, Bitcoin price has corrected over 40% in just the last month.The COVID-19 pandemic has severely hit not only the traditional markets but also the cryptocurrency markets. The overall cryptocurrency market has corrected nearly 40% in just the last month. The world’s largest cryptocurrency Bitcoin has also corrected 40% during the same period. This market crash has wiped out all of Bitcoin’s early 2020 gains. Just in a month’s time, Bitcoin has corrected ruthlessly from its 2020-high turning 40% positive returns into negative year-to-date returns. All eyes are currently now on the upcoming Bitcoin halving event that is just 51 days from now.The halving event is expected

While Tesla (TSLA) stock has corrected 60% in just over a month’s time, its valuations look to be attractive. With strong fundamentals in place, the stock could be a potential buy for the long term.Since the beginning of 2020, Tesla Inc (NASDAQ: TSLA) stock has witnessed heavy trading volumes on Wall Street and attracted many investors who wanted to buy it. Earlier this year when the markets were roaring to its all-time high, Tesla stock appreciated over 100% up to mid-February.At the time of writing, it is possible to buy Tesla (TSLA) stock for $436.24 (+2%). But today the stock has also managed to hit $477.However, just within a month’s time, Tesla investors had to face a hammer blow with the global markets crashing. The Coronavirus pandemic has taken the global markets on a toss. Just

Top-five tech companies (Amazon, Apple, Alphabet, Microsoft and Facebook) have corrected anywhere between 25-30% over the last month’s global market crash. These companies have entered an official bear market after leading the 11-year bull market after the 2008 financial crisis.As on March 19 closing on the indices, the big five tech companies have lost a combined market cap of $1.3 trillion. These big five giants include Alphabet Inc (NASDAQ: GOOGL), Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), Amazon.com Inc (NASDAQ: AMZN), and Facebook Inc (NASDAQ: FB). However, all these companies except for Apple were trading positive on Thursday’s closing.Over the last month, global markets have witnessed a sharp downfall in this market correction. Dow Jones crashed nearly 33%

The fiscal stimulus package came amid the constantly dropping markets over the rise in the coronavirus spread. The Trump government announced direct payments and tax reliefs to individuals and small businesses. Dow Jones moved up on this news.The coronavirus outbreak has taken the entire global economy on a toss. Businesses across the world are facing the heat of this slowdown as the situation goes from bad to worse. The Dow Jones Industrial Average has been tossing like a crazy ball on the market with volatility hitting new highs. On Tuesday, the Dow Jones climbed 1000 points moving above 21,000 levels after the Trump administration announced stimulus measures.As a cushion to the tumbling economy, White House announced $1 trillion and above fiscal stimulus package. The U.S. Treasury

While Tesla (TSLA) stock has crashed over 50% over the last month, its fundamentals currently remain solid. Tesla is facing a massive blow on its manufacturing facilities due to the coronavirus outbreak.The COVID 2019 outbreak has taken a huge toll on the global markets and Wall Street’s once best performer Tesla Inc (NASDAQ: TSLA) took a severe beating. Just over the last week, the Tesla (TSLA) stock has crashed nearly 30% showing extreme volatility.Tesla (TSLA) Stock TodayDespite Dow Jones recovering over 5% on Tuesday, the Tesla stock went down 3% closing the day at $430 levels. Just in a month’s time, Tesla’s valuations have sunk by 50% with its market cap going below $80 billion. But even today, Tesla’s market cap is more than the combined market cap of Ford Motor Company (NYSE:F)

Dow Futures are showing a sharp recovery after Monday’s bloodbath as U.S. President Donald Trump assures supporting industries amid this ongoing COVID-19 outbreak that has disrupted the global economy.On Monday, Dow Jones suffered its worst day after the “Black Friday” market crash of 1987 as fears of coronavirus continue to mount further. The Dow Jones crashed 12.9% i.e. nearly 3000 points closing at 20,188 levels. Just at the Monday opening, Dow Jones triggered a circuit breaker halting trading for 15 minutes. ‘Over the last week, this is for the third time that Dow has triggered a circuit breaker. On the other hand, the S&P 500 also crashed 12% to 2386 levels hitting the December 2018 levels. Similarly, the Nasdaq Composite witnessed its worst day ever closing 12.3% lower at 6904

Taking into account the extremely fragile healthcare systems in Africa, the UK-based company Mologic has collaborated with Senegalese research foundation Institut Pasteur de Dakar to develop the COVID-19 hand-held testing kits.The coronavirus pandemic has gripped the world population with massive fear over the last month. All medical representatives and authorities have been working really hard to find an antidote to the COVID-19. Besides, there’s a lack of infrastructure that allows people to test coronavirus considering the massive outbreak across the globe.In the latest development, a UK-based company Mologic Ltd. has unveiled a new hand-held kit that can perform the coronavirus test in just under 10 minutes. For this project, the UK-based company collaborated with Senegalese research

With the coronavirus being declared a global pandemic by the WHO, McKinsey predicts different scenarios as to how the global markets will react in the future.The unprecedented breakout of the COVID-19 virus across the globe has gripped the global markets in absolute fear. A majority of the stock market across the globe have corrected to the tune of 20-30% just over the last month during the coronavirus outbreak.Businesses across different sectors are facing a major jolt as logistics and trade have significantly slowed down. This has also got the investors worried about whether we are heading for the next global economic recession. Besides, with Dow Jones crashing nearly 30% over the last month, the signs are imminent.Besides, there’s a massive uncertainty with respect to the coronavirus

Amazon’s signature Prime Delivery and Grocery delivery services are facing delays due to overwhelming demand from customers on account of the COVID-19 outbreak. The logistical challenges are mounting for the company. AMZN stock is in red after hours.The coronavirus pandemic has created panic all across the globe with a massive surge in demand for household items. In a blog post on Friday, March 13, e-commerce giant Amazon.com Inc (NASDAQ: AMZN) warned that it is running out of stock for popular household items amid the increasing demand due to coronavirus. Almost all popular items and brands in the “household staples” category were out of stock.A notice at top of the Amazon marketplace this weekend reads:“Inventory and delivery may be temporarily unavailable due to increased demand.

In a memo to employees, Amazon has confirmed the second coronavirus case and notified all employees who came in contact with the infected person. Amazon has allowed remote working from home for all its employees through the month of March.E-commerce giant Amazon.com Inc (NASDAQ: AMZN) has confirmed another case of coronavirus COVID-19 from its Seattle office on Friday. Speaking to CNBC, Amazon has confirmed that the employee has been kept in quarantine for the time period. As for the Amazon (AMZN) stock value, after hours it has lost around 1.5%.Over the last month, the Amazon stock corrected over 25% in the massive market crash. However, on Friday, the AMZN stock recovered 6% going close to $1800. As of Friday closing, Amazon stock is trading at a price of $1785 with a market cap of $888

The Tesla (TSLA) stock price has crashed 45% from its 2020-high in less than a month’s time. Morgan Stanley has reduced the target for the Tesla stock and global economic concerns weigh in.Giving a much-needed breather to investors, the Dow Jones Industrial Average closed this week on Friday on a positive note. Crashing close to 21,000 levels on Thursday, Dow Jones made a quick recovery on Friday surging nearly 2000 points. However, Wall Street’s top performer for 2020, Tesla Inc (NASDAQ: TSLA) stock continues to remain volatile. Despite the overall markets making a solid recovery on Friday, Tesla stock remained under the selling pressure. The Tesla stock price plunged nearly $100 reaching close to $500 before recovering again.Tesla (TSLA) Stock Price MovementsOn Friday closing, the Tesla

Apple and Microsoft have lost around $400 billion each during the latest market sell-off over the last month. Analysts weigh in suggesting Microsoft a better buy over Apple at this stage.There’s bloodbath on Wall Street this week with almost all indices crashing to the tune of 5% and above every single day. While the Dow Jones crashed 10% on Thursday, bluechip company stocks also came tumbling down. Tech giants like Apple Inc (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) have also taken a massive beating on Thursday.The Apple (APPL) stock crashed 10% slipping below $250 levels. Similarly, the Microsoft (MSFT) stock also crashed 10% slipping below $140 levels. In less than a month’s time, both Apple and Microsoft have eroded $00 billion of its market cap individually.On Thursday

As the whole markets come crashing down, Tesla stock price tanked 11.62% on Tuesday closing at $560 levels. With the Tesla production taking a massive hit, analysts are slashing the target for its stock price.Almost every stock on the market has taken a severe beating over this week’s market massacre amid coronavirus spread, and Tesla Inc (NASDAQ: TSLA) is no different. Just over the last five days, the Tesla (TSLA) stock price has crashed over 20%. On Thursday, Dow Jones closed 10% lower losing over 2300 points in the market and moving below 21,500 levels.Tesla stock also closed 11.62% down crashing all the way down to $560 levels. After hours TSLA has lost another 7%. Tesla has been one of the top performers of Wall Street until mid-February with its price surging all the way above $900.

Calling the coronavirus pandemic as an “unprecedented moment”, Apple boss Tim Cook asked employees to work remotely. The virus outbreak has sent tremors all across Wall Street. Trading on U.S. exchange closed for 15 minutes on Monday market opening.As the fears of coronavirus continue to aggravate further, markets continue to make new lows. Even giants like Apple Inc (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT) are feeling the heat of this pandemic. Today, both APPL and MSFT stocks are down by nearly 6% as investors continue to dump their holdings.At press time, the Apple (AAPL) stock is trading 6.56% down at a price of $270. With the rising number of coronavirus cases in the U.S, the Apple stock has plunged over 15% over the last month. But it’s not Apple along facing the heat

Brent crude has plunged nearly 31%, dropping to $31.02 per barrel with the year-to-date crude price dropping by 50%. The U.S. benchmark commodity is witnessing its worst day in almost the last three decades since January 17, 1991.Last Friday, the OPEC and non-OPEC allies failed to reach a consensus on cutting down oil production to control oil price. Well, the tremors of these decisions are clearly visible in the global oil market.In the early trading session on Monday, oil prices crashed 30% as Saudi Arabia drastically cuts down the crude prices. With Russia’s non-agreement to cut down the oil production, Saudi has opened its oil taps for the global market. After last Friday’s meeting, Russian Energy Minister Alexander Novak said:“As from 1 April we are starting to work without minding

Looking for the next stock in the market which can ensure a better retirement for you? Ignore Tesla (TSLA) stock at your own risk!With a solid performance over the last two quarters, Tesla has sent shivers to its competitors in the automobile industry. In just the last six months, Tesla Inc (NASDAQ: TSLA) stock has jumped over 200% making it the second-largest global automobile after Toyota Motor Corp (TYO: 7203). And probably it could be a good reason to buy Tesla (TSLA) stock these days.The current market cap of Tesla is 129.52 billion. As for the TSLA stock price, it is falling now. It fell 2.91% on Friday to $703.48 and it is decreasing after hours. After hours it has lost around 1.81% and has dropped to $690.75.Several financial institutions are also betting big on Tesla’s future.

As crude prices went tumbling down, OPEC and non-OPEC members met on Friday for discussing the cutdown on oil production to control the price. However, the two groups failed to reach a consensus with Russia backing off.The rising concerns with the coronavirus spread have put the global economy in doldrums at this stage. On Friday, the OPEC and non-OPEC allies met for discussing the cutdown on oil production amidst slowing demand.Just like the stock markets, the global crude market has faced the brunt of the virus spread. On Friday, International benchmark Brent crude dipped 8% trading at $45.46 a barrel. From its January peak, the Brent futures also collapsed by nearly 30%. This has also got the crude prices sinking to its 2017-lows.However, it looks like OPEC and non-OPEC allies have

The COVID-19 spread continues to cast a larger shadow on the global markets as volatility seeps in. Analysts say that corrective measures by the Fed are doing little to control the market fall. Dow seriously dropped on Thursday.On Thursday, March 5, Dow Jones tanked 900 points giving a close above 26,100 levels. The markets have stayed quite unpredictable for the whole week oscillating to-and-fro.Since this Monday, Dow Jones has been moving 100 points up and down every alternate day. The market volatility continues on the fears of the fast-spreading Coronavirus. While government agencies have been working to allay the virus spread, no concrete solution appears at this stage.Along with Dow Jones, the S&P 500 and Nasdaq Composite also crashed over 3% on Thursday. The rising cases of the

To combat the pandemic-like situation with coronavirus spread, the Trump administration has ordered 35 million monthly N95 face masks from industrial giant 3M. The company has ramped up the production. 3M (NYSE: MMM) stock is up.The concerns of the coronavirus spread are rising every-single-day and the U.S. doesn’t seem to be prepared. On Wednesday, the Department of Health and Human Services clarified that the U.S. has only about 1% and not 10% of the N95 respirator masks. Such a situation has influenced the 3M (NYSE: MMM) stock.On Wednesday, the 3M stock price surged above 6% to take the stock above $150 levels. At the time of closing, its price was $153.98.At the moment of writing, in the premarket the stock is a little bit down (less than 1%).This is really concerning if the COVID-19

Veteran analysts from Wall Street warn investors that we are at the brink of the next economic recession and it could be possibly worse than the 2008 financial crisis.The coronavirus spread has exacerbated over the last months thereby severely impacting markets worldwide. On Tuesday, the Federal Reserve pressed the buzzer by offering rate cuts amidst rising concerns of the U.S. economic crisis. While the Fed is attempting to boost the crashing markets, analysts think it is not enough.Nouriel Roubini Predicts Dow Jones FallIf the virus spread continues at this rate, we can expect a major market crash to the tune of the 2008 financial crisis. Nouriel Roubini, who correctly predicted the 2008 market crash, said that Dow Jones can crash 40% due to the Coronavirus outbreak. Famously known as

The 10-year and 30-year Treasury bond yields are currently at their historic lows. Tuesday’s FED rate cuts have surprised traders as investors are now leaving stocks aside and moving for safer bonds.The economic effects of the rising coronavirus spread have forced policymakers to take instant corrective measures. Last week, the S&P 500, Nasdaq, and Dow Jones plunged around 10%, one of the nastiest corrections in the market after the 2008 financial crisis. To combat it, the Federal Reserve had to chip in and announce emergency rate cuts. The 10-year Treasury yield dropped nearly 11 basis points and below 1% on Tuesday, March 3. Precisely, it has dropped at an all-time record low of 0.906%. Also, the 30-year Treasury bond was at a record low of 1.601%.Concerned with the economic fallout due

The UAE-based National Bank of Fujairah PJSC (NBF) said that it will use the RippleNet platform for facilitating instant payment and settlement solutions to its customers. The NBF bank has also partnered with India’s IndusInd Bank to use this facility for its Indian customers.In the latest development, blockchain startup Ripple has inked a new partnership with the UAE-based National Bank of Fujairah PJSC (NBF). The announcement reads that the partnership aims to use Ripple’s RippleNet payments network for instant cross-border payment and settlements.Details of Cooperation between Ripple and UAE BankNBF has said that it will use RippleNet for remittance payments for its Indian customers. For this project, the UAE-based bank will cooperate with India’s IndusInd bank. This will facilitate the

Despite the massively weakening demand in the European market, the TSLA stock surged 11% on Monday beating down the bears. Reportedly Tesla is focusing on strengthening its position in the North American market.On Monday, March 2, the Tesla Inc (NASDAQ: TSLA) stock gained over 11% with its price moving close to $750 but Morgan Stanley still asks investors to be cautious. This recovery came amidst the broader markets showing marginal recovery on Monday. Although the COVID-19 cases have been on a rise, investors pulled the markets up in hope of a possible stimulus.Tesla (TSLA) stock has been the top performer on Wall Street since the beginning of 2020. With a mammoth run of over 100% gains in just the first 40 days of the year, investors have their eyes glued on it. Moreover, this has helped

On account of the coronavirus outbreak, China’s manufacturing output has plunged to record lows in February as several factories were shut down. Central banks across the globe are willing to take corrective measures to ensure financial stability.The Chinese economic outlook is turning from bad to worse over the rising number of infected coronavirus cases, the Chinese stocks fell drastically. Last month, the Chinese government asked all companies and manufacturing units to shut down their operations to control the spread.The outcome of this decision has been quite obvious! China’s manufacturing index for February has witnessed a sharp fall to a record low. The Markit/Caixin manufacturing Purchasing Managers’ Index (PMI) dropped to 40.3. This is much below the expectations of the 45.7 figure

After a massive bloodbath last week, the markets are showing signs of recovery as indexes turn positive. Dow Futures are surging. But China’s manufacturing Index for February has scored below market expectations.Last week, the rising cases of coronavirus globally pushed the traditional stock markets in a bloodbath. All indices – Dow Jones, S&P 500, and Nasdaq – corrected around 10%. This was the fastest correction witnessed by the market since the global economic recession of 2008.However, after the crash on Sunday, Dow Futures recovered in the early trading session on Monday. At Monday’s opening session, the Dow Jones Industrial Average futures opened 144 points up. Similarly, the Nasdaq 100 and S&P 500 futures surged on Monday, giving a positive signal to the market.Last week’s market

Binance will now work with the Shyft Network provides industry-wide solutions to meet the FATF requirements. For this, the network uses its database bridging, identity passporting, and data attestation infrastructure. As crypto exchange Binance spreads its wing in the global market, it is working on complying with the Financial Action Task Force (FATF) regulations. Recently, Binance joined hands with public blockchain protocol Shyft Network for cross-industry KYC data sharing.The Shyft Network helps crypto industry players by offering decentralized solutions to fulfill global compliance standards. This also includes complying with the FATF’s “travel rule”. Binance’s chief compliance officer Samuel Lin said that Shyft is the first infrastructure in the crypto space that helps firms to