How major US stock indexes fared Tuesday

U.S. stocks closed broadly higher Tuesday, reversing a big portion of their losses from a sharp sell-off the day before. The gains snapped a two-day skid in the bechmark S&P 500 index driven by fears that the spread of a new virus in China could hamper global ecomomic growth. Technology stocks rose the most....

Stocks indexes gain on Wall Street a day after a big drop

Stocks closed broadly higher on Wall Street Tuesday, reversing a big slice of the market’s losses from a sharp sell-off the day before. The rebound ended a five-day losing streak for the Dow Jones Industrial Average fueled largely by fears that the spread of a new virus in China could hamper global...

Bad timing: New virus poses threat to fragile world economy

This should be peak season for a 12-room hotel near the train station in the Chinese industrial hub of Wuhan. The Chinese New Year usually brings in plenty of travelers and delivers profits of around $3,000 a month. But the place is empty. Wuhan, the center of a deadly viral outbreak, is on lockdown....

In grinding manufacturing slump, 3M cuts another 1,500 jobs

A profound slump in manufacturing and a trade war that has slowed economic growth in China has led to a second round of layoffs at 3M, the Minnesota company that makes Post-it notes as well as industrial coatings and ceramics. The 1,500 job cuts come on top of the 2,000 jobs the company trimmed less than a year...

Pfizer posts 4Q loss, misses Street views, on lower revenue

Pfizer's ongoing restructuring is significantly reducing revenue, resulting in a $337 million loss in its fourth quarter and a miss of Wall Street's profit expectations. The results and Pfizer's 2020 financial forecasts didn't please investors, who drove Pfizer shares down more than 4%, an unusually large drop...

Budget deficit to break $1 trillion despite strong economy

WASHINGTON (AP) — An annual congressional report says the U.S. budget deficit is likely to burst through the symbolic $1 trillion barrier this year despite a healthy economy. Tuesday's Congressional Budget Office report follows a burst of new spending last year and the repeal in December of several taxes...

Greece says landmark 15-year bond auction successful

ATHENS, Greece (AP) — Greece raised 2.5 billion euros ($2.75 billion) in a 15-year bond auction on Tuesday at a low interest rate, as the country borrowed beyond the scope of a bailout-repayment relief plan for the first time. The Public Debt Management Agency said the yield was 1.88% — below a...

Congressional Budget Office: Budget deficit to reach $1 trillion this year despite strong economy

In snub to US, Britain will allow Huawei in 5G networks

LONDON (AP) — Britain decided Tuesday to let Chinese tech giant Huawei have a limited role supplying new high-speed network equipment to wireless carriers, ignoring the U.S. government's warnings that it would sever intelligence sharing if the company was not banned. Britain's decision is the first by a...

Millennial Money: Recession jitters and your finances

Even just talk of a possible recession can trigger anxiety for anyone who associates it with the major economic downturn of a dozen years ago. But history doesn’t always repeat itself. “The financial crisis in 2008 was basically the second-worst recession ever after the Great Depression in the last...