The Dow Jones index was on course on Thursday for its worst performance since Wall Street's "Black Monday" crash of 1987, as President Donald Trump's move to curb travel from Europe added to growing corporate distress over the coronavirus pandemic.
"In the absence of massive and decisive federal intervention that creates confidence in the market, it has the potential to be a multiyear" downturn, the Social Capital founder said Thursday.
JPMorgan Chase & Co has asked New York-area employees to work from home to stem the spread of the coronavirus, according to an internal memo seen by Reuters on Thursday.
Dimon was released one week after he underwent emergency heart surgery.
Billionaire investor Carl Icahn has raised his stake in Occidental Corp to nearly 10%, or about 88.6 million shares, saying the shares were undervalued, an SEC filing http://bit.ly/2Qb9byt on Thursday showed.
The Wharton School is offering a new course inspired by the coronavirus to teach about economic and business disruption caused by major black-swan events.
A coronavirus-induced meltdown on Wall Street and other financial markets saw prices plunge on Thursday for everything from stocks and corporate bonds to bitcoin, oil and gold -- wiping trillions of dollars from investment portfolios and company valuations.
The airlines industry body called on governments on Thursday to support transatlantic carriers hit by cash-flow problems due to the coronavirus crisis by offering measures such as credit lines and tax breaks.
Analysts and economists increasingly expect the Federal Reserve to roll out measures beyond interest rate cuts and bond purchases to ensure financial markets keep operating smoothly and banks have ample liquidity during the coronavirus outbreak.
JPMorgan Chase & Co Chief Executive Officer Jamie Dimon was released from a New York hospital and is now at home recovering from an emergency heart surgery he underwent last week, the bank said on Thursday.
As stocks hit their worst-performing week since the Financial Crisis, most investors are tempted to make big moves or do nothing at all. One behavioral finance expert says it's wise to take a more strategic approach. These tips can help assess whether you're moving in the right direction.
The move is likely to be followed widely be other large New York-area employers. JPMorgan said it was following the request of Gov. Andrew Cuomo.
Emirates, one of the world's biggest international airlines, expects to cancel more flights and has frozen recruitment as it faces what could be its biggest challenge in many years, the coronavirus outbreak, internal emails seen by Reuters showed.
The number of Americans filing for unemployment benefits unexpectedly fell last week as employers continued to hold on to their workers, but the coronavirus pandemic is expected to lead to an increase in layoffs as companies battle supply chain disruptions and sagging demand for some goods and services.
The U.S. Labor Department on Thursday gave states flexibility to amend their laws to provide unemployment benefits in events related to the coronavirus in an effort to limit the damage on the economy from the pandemic.