Fed Beige Book reports first negative impact of coronavirus on U.S. economy

The outlook: The coronavirus outbreak was starting to have an impact on the U.S. economy, especially the travel and tourism industry, according to the Federal Reserve’s Beige Book report released Wednesday. The report, a collection of anecdotes from the central bank’s business contacts around the country, found worries that manufacturing supply-chains would be disrupted in […]

Asian markets tick higher after Wall Street sinks despite rate cut

BEIJING — Asian stock markets were mostly higher Wednesday after Wall Street sank despite an emergency U.S. interest cut aimed at defusing fears a virus outbreak might depress global economic activity. Benchmarks in Shanghai, Tokyo and Seoul gained while Hong Kong and Sydney declined. On Wall Street, the benchmark S&P 500 index tumbled 2.8% on […]

Goldman economists expect Fed to cut rates soon to head off impact of outbreak

There is growing consensus that the world’s central banks, including the U.S. Federal Reserve, will soon take policy action to avert a financial meltdown due to the coronavirus outbreak. Goldman Sachs Group Inc. GS, -1.80%  economists on Sunday predicted the Fed would cut rates, possibly before its next meeting, scheduled for March 16-17. In a […]

Asian markets come charging back despite growing fallout from coronavirus

Asian shares came charging back Monday from last week’s retreat, with mainland Chinese benchmarks gaining 3% as data showed progress in restoring factory output after weeks of disruptions from the viral outbreak. Stocks have been swooning as investors fret the coronavirus outbreak will derail the global economy. But in those declines, some see opportunities to […]

U.S. tightens travel restrictions as Trump says more coronavirus cases ‘likely’

Seeking to reassure the American public, President Donald Trump said Saturday there was “no reason to panic” as the new coronavirus claimed its first victim inside the U.S. The White House also announced new restrictions on international travel to prevent its spread. Trump, speaking only moments after the death in Washington state was announced, took […]

How valuable is your 401(k)? These numbers will tell you

A 401(k) balance is important, but without any context it’s just a number. To be financially prepared for retirement, investors also need to have a rough idea of when they’ll retire, how much or often they plan to contribute to their account until then, and a few other necessary figures. Without those numbers, a worker […]

Gold books biggest daily slide in nearly 7 years with nearly 5% drop

Gold futures dropped by nearly 5% on Friday, suffering the sharpest daily slide since June 2013. Investors rushed to sell the precious metal to generate cash to cover losses in the stock market, which continued to plunge on rampant worries about the spread of COVID-19 epidemic and its effect on the global economy, analysts said. […]

What is a retiree’s most important investment decision?

On what should you spend more time in devising your retirement portfolio: Asset allocation (how much to allocate in the first place to equities, bonds, and so forth) or security selection (which individual mutual funds or ETFs to purchase once you’ve decided how much to allocate to a particular asset class)? The answer from many […]