Live Stock Market Updates During the Coronavirus Pandemic


The International Monetary Fund said Wednesday that the global economy faces an even deeper downturn than it previously projected as the coronavirus pandemic continues to sow uncertainty and businesses around the world struggle to shake off the virus.

In an update to its World Economic Outlook, the I.M.F. said it expected the global economy to shrink 4.9 percent this year, a sharper contraction than the 3 percent it predicted in April.

The fund noted that, even as businesses began to reopen, voluntary social distancing and enhanced workplace safety standards were weighing on economic activity. Moreover, the “scarring” of the labor force from mass job cuts and business closures means that the world economy will recover much more slowly, with the I.M.F. projecting 5.4 percent global growth in 2021, far below its pre-pandemic projections.

The I.M.F. now projects that the U.S. economy will shrink 8 percent this year before expanding 4.5 percent next year. Economies in the eurozone are projected to shrink 10.2 percent this year and expand 6 percent next year. The economy of China, where the virus originated and which imposed draconian containment measures, is expected to expand 1 percent this year and 8.2 percent in 2021.

Stocks slide as infections rise and some states backtrack on reopening.

Stocks on Wall Street fell amid further signs that the coronavirus outbreak is proving difficult to stop.

The S&P 500 fell nearly 2 percent, while major benchmarks in Europe were down more than 2 percent.

The drop in Europe was exacerbated partly by a notice from the United States Trade Representative that it was considering adding tariffs on other exports from Europe as part of its long-running complaint over subsidies for aircraft maker Airbus. The U.S.T.R. requested comments from U.S. companies on a $3.1 billion of list of goods it may tax.

The International Monetary Fund said Wednesday it expected the global economy to shrink 4.9 percent this year, a sharper contraction than the 3 percent it predicted in April. Nervousness about the economic outlook was evident in other financial markets. Oil prices fell, and U.S. Treasury bonds and gold futures, both proxies for investor anxiety, were higher. The stock prices of Delta Air Lines, American Airlines and United Airlines each fell about 5 to 6 percent, and shares of cruise line companies were even lower.

German officials this week reimposed local lockdowns after an outbreak at a slaughterhouse infected more than 1,500 people. In the United States, a surge in new cases in states including Florida, Texas and Arizona have prompted new warnings about the dangers of the pandemic.

India is coming under increased pressure to open its airspace to international carriers after the United States and some European nations accused it of discriminatory practices under the garb of “repatriations” flights.

Over the past several years, hospitals began to play innkeeper to open the door to more elective surgery, which is the lifeblood of their revenue.

Shortly after the coronavirus pandemic largely shut down the country’s hotels and golf courses, the Trump Organization asked its longtime lender, Deutsche Bank, for a break on its monthly loan payments. President Trump’s company owed the German bank a total of more than $300 million, most of which was on loans related to the Trump National Doral golf resort in Florida and the Trump International Hotel in Washington.



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