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Coronavirus could hurt quite a few industries around the world, but a handful might benefit from a shopping frenzy. This weekend saw sales of hand sanitizer and cleaning products rise exponentially as the public panicked about a potential coronavirus outbreak. Cleaning products aren’t the only place to look for
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Gold’s price posted its biggest single-day slide since 2013. The yellow metal bottomed at $1,564.00/oz., wiping out more than two weeks’ worth of gains. The selloff was triggered by fears that coronavirus will impact demand for raw materials as economic growth grinds to a halt. Steep declines in stocks
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Some stocks are defying gravity amidst the coronavirus-related plunge. Select biotech firms developing vaccines or treatments for the respiratory illness are among the winners. Clinical trials are either underway or set to begin. Since last week’s close, the S&P 500 index has dropped from 3338 points to around 3070
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The spreading coronavirus sowed a new bout of fear among investors, triggering a stock market sell-off and flight to safe-haven assets like gold and U.S. Treasury bonds, with 47 countries now reporting infections amid widespread reports of travel cancellations, shipment delays and business interruptions.U.S. stocks fell for the sixth straight
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Bitcoin (BTC) was fighting to keep support at a key level on Feb. 27 as markets worldwide continued to suffer from fears over coronavirus.Cryptocurrency market daily overview. Source: Coin360The make-or-break moment for BTC bullsData from Coin360 and CryptoX markets showed BTC/USD fluctuating around its 200-day moving average (200 DMA)
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Bitcoin’s price touched an intraday low of $8,620.00, its worst showing in a month. The sudden drop follows a chaotic two days for U.S. stocks, as the Dow crashed almost 2,000 points over that stretch. Gold has rallied in the wake of the stock-market collapse while bitcoin has languished.
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President Donald Trump hinted that investors should buy stocks yesterday, claiming the market looks “very good!” Last time Trump urged investors to buy, the S&P 500 rallied 35%. Obama did the same in 2009, right before the biggest bull run in history. American presidents have an uncanny ability to
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Gold is up nearly 10% since Coronavirus deaths spread beyond China. Yellow metal stocks present the best of both worlds – capital gains and dividends. As the wider market tanked, precious metal stocks surged. A spike in coronavirus cases outside China has raised fears that the pneumonia-like illness could
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The Wuhan coronavirus is rapidly spreading around the globe and may soon be declared a global pandemic. The crisis is having a significant economic impact on companies, but financial markets remain nonchalant. China’s economic stimulus may be distorting financial markets. The West should avoid falling into the same trap.
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Analysts at Goldman Sachs believe the market may be underestimating the impact of coronavirus on corporate earnings and economic growth. The novel disease has infected nearly 76,000 people, killing 2,130 in the process. Some scientists believe the actual infection rate is much higher. U.S. stocks closed at record highs
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