Connect with us

News

On renewed virus fears, Asian stocks are following Wall Street lower.

Published

on

On renewed virus fears, Asian stocks are following Wall Street lower.
On renewed virus fears, Asian stocks are following Wall Street lower.

On renewed virus fears, Asian stocks are following Wall Street lower.

 

Following Wall Street’s lead, Asian stock markets fell on Wednesday as European governments tightened anti-coronavirus restrictions, casting doubt on the economy’s recovery.

Shanghai, Tokyo, and Hong Kong market indices all fell.

As technology, industrial, and bank stocks dropped overnight, Wall Street gave up the bulk of the previous day’s gains.

In reaction to spikes in illness, Germany, Europe’s largest economy, and the Netherlands expanded lockdowns and introduced new travel and business restrictions, shaking investor trust.

Following six weeks of declines, the World Health Organization reported that the weekly global death toll from the virus is raising again. The number of new cases reported increased in four of the six global regions, according to the study.

In a paper, Stephen Innes of Axi said, “Investors were scrambling for life jackets, as it appears we are back navigating the stormy sea of the coronavirus pandemic.”

The Shanghai Composite Index dropped 0.6 percent to 3,392.00, while the Nikkei 225 fell 1.8 percent to 28,465.86 in Tokyo. Hong Kong’s Hang Seng Index fell 1.4 percent to 28,090.38.

The South Korean Kospi dropped 0.6 percent to 3,986.00. In Australia, the S&P-ASX 200 index rose 0.5 percent to 6,776.80. New Zealand gained ground, while Singapore lost ground.

In Europe, Germany has extended anti-virus restrictions for three weeks, until April 18, and has ordered that travelers arriving by air must be screened for the coronavirus before boarding. The lockdown in the Netherlands has been extended by three weeks.

It was preceded by similar moves by Italy and France.

Investors are torn between excitement about coronavirus vaccinations, which could enable business and travel to resume, and concern about the recovery’s pace.

Traders are also keeping an eye on the risk of increasing inflation pressures as a result of the influx of credit and government spending that has overwhelmed struggling economies. As a result, bond rates in the United States have fallen, causing some investors to move their money out of stocks.

On Wall Street, the S&P 500 index dropped 0.8 percent to 3,910.52 on Tuesday. To 32,423.15, the Dow Jones Industrial Average dropped 0.9 percent.

The Nasdaq, which is dominated by technology companies, fell 1.1 percent to 13,227.70 points.

Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell told Congress in Washington that something needs to be done to avoid economic damage. Powell said emphatically that he does not believe stimulus policies would result in inflation.

Bond yields, or the gap between market and maturity payouts, have narrowed as rates have risen. The yield on the 10-year Treasury note has dropped to 1.63 percent, from above 1.70 percent last week.

This weighed on banks and other financial institutions, which use yields as a benchmark for interest rates on mortgages and other loans. Bank of America and Wells Fargo also fell by 2.0% and 1.9 percent, respectively. The stock of American Express dropped by 2.8 percent.

On the New York Mercantile Exchange, benchmark U.S. crude fell 2 cents to $57.74 per barrel in electronic trading.

After Germany’s lockdown announcement, the contract fell $3.79 to $57.76 on Tuesday, causing fear that demand for business and travel would fall.

Brent crude, which is used to price foreign oils, fell one cent in London to $60.85 a barrel. It fell $3.83 to $60.79 in the previous session.

The dollar fell to 108.52 yen from 108.75 yen on Tuesday. The euro fell from $1.1853 to $1.1848.

google news

My self Eswar, I am Creative Head at RecentlyHeard. I Will cover informative content related to political and local news from the United Nations and Canada.

News

Scratcher worth $1 million sold at Missouri grocery store

Published

on

Scratcher worth $1 million sold at Missouri grocery store

INDEPENDENCE, Mo. — Someone won a $1 million prize from a scratch-off lottery ticket bought at a Missouri grocery store.

The person won the prize playing the “$300 Million Cash Explosion” game. The ticket, which costs $30, was purchased at the Price Chopper on Sterling Avenue in Independence.

It’s the ninth $1 million prize claimed on “$300 Million Cash Explosion” since the ticket became available in 2018.

More than $94.4 million in prizes remain unclaimed in the game, including one $10 million top prize, three other $1 million prizes, and six prizes of $50,000.

google news
Continue Reading

News

St. Louis Pandemic Task Force to feds: ‘We need to ask for help’

Published

on

St. Louis Pandemic Task Force to feds: ‘We need to ask for help’

ST. LOUIS–Military doctors or medical teams staffed by the Federal Emergency Management Agency could be in the St. Louis area if the federal government answers a call for help from the St. Louis Metropolitan Pandemic Task Force.

On Thursday, Dr. Alex Garza, Task Force Leader, told FOX2 that it’s the first time hospitals here have needed to make the request, as hospitals not only see the most patients they’ve seen during the pandemic, but are losing staff to sick days brought on by their own COVID cases or those close to them.

“This is a reflection of where we are in the pandemic. We’re seeing more patients now than we have ever seen before in the pandemic. Unfortunately, we have our workforce is either getting ill or having that second order effect from the virus… having to take care of family members, schools closing down, things like that. We’re typically very self-sufficient in health care, we don’t like to ask for help but I think we’re at that point where we need to ask for help,” Garza said.

The move comes roughly three weeks after Missouri Governor Mike Parson ended the state of emergency which had been in place since the beginning of the pandemic. Task Force leaders have been critical of that move to end the emergency order, which allowed for expanded use of telehealth services, the ability to exceed licensed bed capacity when required by demand, took down barriers to testing and treatment of COVID 19 patients.

The timetable for a response to the request for federal help was unclear Thursday. A spokesperson for Governor Parson said his office was aware of the request, which it said went through the State Emergency Management Agency.

 

google news
Continue Reading

News

Denver Public Schools prepares to close schools as enrollment declines

Published

on

Denver Public Schools prepares to close schools as enrollment declines

Denver Public Schools is moving forward with its plan to close schools in anticipation that the district will continue to see enrollment in its K-12 schools fall in coming years, Superintendent Alex Marrero said during Thursday’s school board meeting.

The district will form a committee, made up of families and other community members, to determine what criteria should be used to determine if a school closes or consolidates. Applications for those interested in joining the committee will be available online starting Friday, he said.

DPS expects to announce which schools will close by the end of next year, with the closures going into effect during the 2024-25 academic year, according to Marrero’s presentation.

But it’s possible some schools will close sooner because they already are struggling, he said.

“There are some who are on life support now,” Marrero said.

Enrollment in public schools has fallen statewide during the pandemic, with the state Department of Education reporting Wednesday that there were 1,174 fewer K-12 students enrolled last fall compared with the previous year. The state saw a larger decline in enrollment during the 2020-21 school year, when more than 20,000 students left.

DPS, the state’s largest school district, saw enrollment in preschool through 12th grade decline by 172 people to 88,889 students in October, according to the education department.

More children are being home-schooled during the pandemic, and some families have moved out of state during the pandemic. A declining birthrate also is attributed to fewer students, according to education officials.

Marrero, in an interview before the meeting, also blamed gentrification and Denver’s high cost of living for the enrollment declines, which he said affects the ability of families and DPS employees to remain in the city.

“Many of the families we have traditionally served as a community can longer live here,” said Nicholas Martinez, executive director of Transform Education Now, who spoke during the public comments portion of the meeting.

When students go, so does money allocated to districts and schools. For example, the loss of 6,000 students would result in the loss of $78 million, Marrero said.

google news
Continue Reading

Trending