Traders work on the floor of the New York Stock Exchange (NYSE) on March 09, 2020 in New York City.Spencer Platt | Getty ImagesFor a market rocked by big volatile moves lower, Friday's expiration of stock futures and options could add even more wild swings.But the quadruple witching expiration, as it is called, could also…
It was one of the wildest weeks on Wall Street ever and the worst stock performance since the financial crisis. Here's what happened:4:40 pm: Former White House economic advisor Gary Cohn says US needs to help workersGary Cohn, the former White House economic advisor and Goldman Sachs executive, told CNBC that the U.S. needs to…
Tesla vehicles stand outside of a Brooklyn showroom and service center on August 27, 2018 in New York City.Spencer Platt | Getty ImagesCheck out the companies making headlines after the bell.Crowdstrike — The cybersecurity company's stock soared 19% in extended trading after the company posted fourth-quarter revenue that exceeded analysts' expectations. Crowdstrike said it had…
Stocks attempted to rally on Friday, but failed, concluding one of the most volatile weeks on Wall Street ever as investors grapple with mounting fears over the coronavirus' economic blow.The Dow Jones Industrial Average closed 913.21 points lower, or more than 4%, at 19,173.98 after rallying more than 400 points earlier in the day. The…
Jerome Powell, chairman of the U.S. Federal Reserve, pauses while speaking during a news conference in Washington, D.C., on Tuesday, March 3, 2020.Andrew Harrer | Bloomberg | Getty ImagesJust like consumers started a run on toilet paper, companies and institutions all over the world have created a shortage of dollars,  as some players hoard more…
Traders work on the floor of the New York Stock Exchange.Michael Nagle | Bloomberg | Getty ImagesSome investors are taking a counter-intuitive approach when looking for a bottom in stocks amid this historic sell-off: They are waiting for the coronavirus headlines to get much scarier before buying.Under normal market dynamics, investors and traders would wait…
Investor Ray Dalio told CNBC on Thursday the coronavirus outbreak will cost U.S. corporations up to $4 trillion, and "a lot of people are going to be broke.""What's happening has not happened in our lifetime before ... What we have is a crisis," Dalio said in a "Squawk Box" interview. "There will also be individuals who…
This is a live blog. Check back for updates.11:59 am: Trump highlights pharma companies in briefingPresident Trump highlighted therapies from Gilead Sciences and Regeneron during a briefing about the pandemic. Trump said his administration is working with the FDA to speed up trials of these therapies to help treat the virus. Gilead's remdesivir drug was…
Bloomberg | Bloomberg | Getty ImagesCheck out the companies making headlines after the bell.Williams-Sonoma — The home goods retailer's stock was up 2% in extended trading after the company posted a double beat on earnings and revenue in the fourth quarter. Williams-Sonoma reported earnings of $2.13 per share excluding some items on revenue of $1.84 billion,…
The Fed is throwing all of its fire power at markets, and yet interest rates continue to rise, a troubling sign when the economy looks set to slow down dramatically.Markets continue to swing violently with the Dow losing another 6.2% Wednesday; oil plunging 24%, and copper down about 7%. The credit markets continue to function…
The New York Stock Exchange said Wednesday it will temporarily close its historic trading floor and move fully to electronic trading after two people tested positive for coronavirus infection at screenings it had set up this week.All-electronic trading will begin on March 23 at the open, the exchange said. The facilities to be closed are…
Investor Bill Ackman urged President Donald Trump and corporate America in an impassioned plea on CNBC to shut down the country for 30 days to contain the fast-spreading coronavirus, calling it the only option to rescue the economy."What's scaring the American people and corporate America now is the gradual rollout," Ackman told Scott Wapner on "Halftime Report" on…
A job-seeker (top) hands his resume to Candice Perkins, a representative of Workforce1 during a 'Work Search' event aimed at older unemployed people in New York City.Getty ImagesThe first wave of bad economic news directly related to the coronavirus crisis is likely to come from the jobs market, and that could be delivered sooner rather…
Stocks hit a new coronavirus crisis low Wednesday as investors worried governmental response to the pandemic wouldn't be sufficient. A key market-wide circuit breaker was triggered for the second time in just three days as volatility continued to roil Wall Street. Here's what happened:5:31 pm: NYSE to temporarily close floor, move to electronic trading after positive…
South Korean soldiers wearing protective gear spray disinfectant on the street to help prevent the spread of the COVID-19 coronavirus, at a residential area in Seoul on March 9, 2020.Jung Yeon-Je | AFP | Getty ImagesInvestors are looking at big losses in two World Bank-issued "pandemic bonds," which have fallen under the spotlight as the…
A bar sits closed in the early evening in Brooklyn after a decree that all bars and restaurants shutdown by 8 pm in New York City as much of the nation slows and takes extra precautions due to the continued spreading of the coronavirus on March 16, 2020 in New York City, United States.Spencer Platt…