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Delta variant clouds developing Asia's growth outlook - ADB
  + stars: | 2021-09-22 | by ( ) www.reuters.com   time to read: +3 min
Growth in developing Asia, which groups 46 countries in the Asia-Pacific, is projected to reach 7.1% this year, the ADB said in an update to its Asia Development Outlook report, down from its 7.2% forecast in July and 7.3% in April. While seeing a slight downgrade, this year's growth estimate is a turnaround from the region's 0.1% contraction last year. For 2022, the ADB kept its 5.4% growth forecast for developing Asia. "Developing Asia remains vulnerable to the COVID-19 pandemic, as new variants spark outbreaks, leading to renewed restrictions on mobility in some economies," ADB Acting Chief Economist Joseph Zveglich said in a statement. The ADB also maintained its growth outlook for India at 10.0% this year and 7.5% next year.
Persons: Wang, Joseph Zveglich, Abdul Abiad, Abiad, Zveglich, Karen Lema, Ed Davies Organizations: REUTERS, Asian Development Bank, ADB, Asia Development, European Union, HK, Thomson Locations: Tianjin, China, Wang MANILA, Asia, United States, India, Myanmar
FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. It took aim at American Airlines, the largest airline in the world, saying the alliance would cost consumers hundreds of millions of dollars. "Plain and simple: American Airlines and JetBlue's Northeast Alliance is anticompetitive." Shares of American Airlines closed down 2.8% at $19.76 while JetBlue was down 4.8% at $14.76. This is not a merger: American and JetBlue are – and will remain – independent airlines."
Persons: Mike Blake WASHINGTON, Trump, Rob Bonta, Robin Hayes, Hayes, Biden, Boston Logan, John F, Doug Parker, Parker, Diane Bartz, David Shepardson, Jon Stempel, Mark Porter, Steve Orlofsky, David Gregorio Our Organizations: American Airlines Airbus, Los Angeles International, REUTERS, U.S . Justice Department, American Airlines Group Inc, JetBlue Airways Corp, U.S . Transportation, American Airlines, JetBlue, DOJ, Justice Department, Kennedy, Newark Liberty, American, United Airlines, Delta Air Lines, of, The, America, US Airways, Thomson Locations: Los Angeles , California, U.S, Northeastern U.S, Boston, California, United States, LaGuardia, New York, Arizona , California, of Columbia , Florida , Massachusetts, Pennsylvania, Virginia, American, Washington
Bob Chapek, chairman of Walt Disney Parks and Resorts, speaks during the 10th anniversary ceremony of Hong Kong Disneyland in Hong Kong, China September 11, 2015. REUTERS/Tyrone Siu/File PhotoSept 21 (Reuters) - Walt Disney Co (DIS.N) Chief Executive Officer Bob Chapek said on Tuesday the resurgence of the Delta variant of the coronavirus was delaying production of some of its titles. COVID-induced production delays were seen globally, which in turn were affecting supply of new content, but the issues were short term, he added. Chapek said the company was still "very bullish and confident" about its long-term subscription growth, but there could be "a little bit more noise" than was expected. Reporting by Nivedita Balu in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Persons: Bob Chapek, Tyrone Siu, we've, Chapek, Goldman Sachs, Nivedita Balu, Vinay Dwivedi Organizations: Walt Disney Parks and Resorts, REUTERS, Walt Disney Co, Goldman Sachs Communacopia Conference, Disney, Netflix, Apple, Thomson Locations: Hong Kong, China, Bengaluru
FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. REUTERS/Mike BlakeWASHINGTON, Sept 21 (Reuters) - American Airlines Chief Executive Doug Parker said on Tuesday that he expected the U.S. Justice Department to file a lawsuit challenging American's (AAL.O) partnership with JetBlue Airways (JBLU.O) on antitrust grounds. The U.S. Justice Department said that it would have a major antitrust announcement on Tuesday. Shares of American Airlines were down 2.6 percent on Tuesday at $19.79 while those of JetBlue were down 4.6 percent at $14.79. read moreThe Biden administration has nominated Jonathan Kanter, an antitrust lawyer, to be the head of the Justice Department's antitrust division.
Persons: Mike Blake WASHINGTON, Doug Parker, Parker, It's, We've, Trump, Biden, Jonathan Kanter, Diane Bartz, David Shepardson, Mark Porter, Steve Orlofsky Organizations: American Airlines Airbus, Los Angeles International, REUTERS, American Airlines, U.S . Justice Department, JetBlue Airways, Washington Post, Street Journal, JetBlue, U.S . Transportation, American, United Airlines, Delta Air Lines, Northeast, Transportation Department, Newark Liberty International Airport, Thomson Locations: Los Angeles , California, U.S, U.S ., New York, Boston, United States, Delta, Washington
WASHINGTON — House Democrats announced Tuesday an additional $28.6 billion in disaster relief and $6.3 billion in Afghan refugee aid has been added to a stopgap spending bill that needs to passed quickly in the coming weeks to avoid a government shutdown. On Monday, Democratic leaders announced plans to attach a debt limit extension to the stopgap funding bill, setting up a showdown with Republican senators. The Treasury Department has said the debt limit will be breached sometime in October if it's not lifted, which could disrupt the U.S. economy. The House bill includes $28.6 billion to address recent disasters, including Hurricane Ida earlier this year and from last year Hurricanes Delta, Zeta and Laura, wildfires, severe droughts and winter storms, according to a release. The continuing resolution would also suspend the debt limit into December 2020, which Senate Republicans are expected to balk over.
Persons: Rosa DeLauro, Conn, it's, Hurricane Ida, We're, we're, Pete Aguilar, McConnell Organizations: WASHINGTON —, Democratic, Republican, Treasury Department, Hurricanes Delta, Republicans, United, United States Government Locations: U.S, United States
U.S. set to challenge American-JetBlue partnership, WSJ reports
  + stars: | 2021-09-21 | by ( ) www.reuters.com   time to read: +2 min
FILE PHOTO: An American Airlines Airbus A321-200 plane takes off from Los Angeles International airport (LAX) in Los Angeles, California, U.S. March 28, 2018. The airlines' "Northeast Alliance" partnership was announced in July 2020 and approved by the U.S. Transportation Department six months later, shortly before the end of the Trump administration. The government is planning to allege in the lawsuit that the partnership between the two airlines could lead to higher fares and hurt competition, the newspaper reported. American Airlines said that it has not been notified that a lawsuit was coming. The lawsuit is the second action the Biden administration has taken recently to ensure competition in the skies.
Persons: Mike Blake, Trump, Biden, Diane Bartz, David Shepardson, Abhijith, Ramakrishnan, Paul Simao, Mark Porter Organizations: American Airlines Airbus, Los Angeles International, REUTERS, U.S . Justice Department, American Airlines Group, JetBlue Airways Corp, Wall Street, U.S . Transportation Department, American, JetBlue, United Airlines, Delta Air Lines, American Airlines, Transportation Department, Newark Liberty International Airport, Thomson Locations: Los Angeles , California, U.S, New York, Boston, U.S ., Washington, Bengaluru
REUTERS/Jeenah MoonCHICAGO/LONDON, Sept 21 (Reuters) - America's reopening to international air travelers can't come soon enough for U.S. and European airlines which have sorely missed the lucrative transatlantic market. "The transatlantic market is a key profit generator for the main European legacy airline groups," said Bernstein analyst Daniel Roeska. LEAN WINTERThe lifting of restrictions coincides with the onset of winter season, historically a lean period for international travel, when many airlines tend to make a loss. In the United States, though, airlines fear the travel recovery could by blunted by the Delta variant of the coronavirus. In early September, U.S. airline passenger volumes for international travel were just 44% of the pre-pandemic levels, according to data from trade body Airlines for America.
Persons: Biden, IAG, Bernstein, Daniel Roeska, Colin Scarola, Savanthi, Raymond James, David Shepardson, David Gregorio, Chris Sanders, Pravin Organizations: JetBlue, JFK International Airport, REUTERS, British Airways, Lufthansa, Air France, KLM, U.S, American Airlines, United Airlines, Delta Air Lines, Transatlantic, White House, Air, Virgin Atlantic, CFRA Research, Airlines for America, Thomson Locations: London, Queens, New York City , New York, U.S, CHICAGO, LONDON, United States, Air France, New York, Orlando, Las Vegas, Miami, Europe, Washington
The fast-spreading Delta variant of Covid-19 has slowed the pace of the global economic recovery but won’t derail it, according to new forecasts released by the Organization for Economic Cooperation and Development. In its latest quarterly report on the economic outlook published on Tuesday, the Paris-based research body lowered its growth forecasts for the global and U.S. economies in 2021, the first downgrade since December of last year, when new infections were surging.
Organizations: Organization for Economic Cooperation, Development Locations: Paris, U.S
TORONTO — Canadians gave Prime Minister Justin Trudeau’s Liberal Party a victory in Monday’s parliamentary elections, but his gamble to win a majority of seats failed. Trudeau didn’t win enough seats to avoid having to rely on help from other parties to pass legislation. A Conservative win would have represented a rebuke of Trudeau against a politician with a fraction of his name recognition. O’Toole advertised himself a year ago as a “true-blue Conservative.” He became Conservative Party leader with a pledge to “take back Canada,” but immediately started working to push the party toward the political center. Adrian Archambault, a 53-year-old Vancouver resident, voted Liberal and said he didn’t mind the election was held during a pandemic.
Persons: Justin Trudeau’s, Trudeau, Pierre Trudeau, Trudeau didn’t, Andrej Ivanov, didn’t, Erin O’Toole didn’t, O’Toole, Alberta Premier Jason Kenney, Kenney, , Nelson Wiseman, Wiseman, Adrian Archambault, Donald Trump, Barack Obama, Hillary Clinton, Walied Soliman, Soliman, “ Trudeau, Daniel Béland Organizations: TORONTO, Justin Trudeau’s Liberal Party, Liberal, Conservatives, New Democratic Party, Greens, Delta, Getty, Conservative, Alberta Premier, Liberals, University of Toronto, Alberta Conservatives, Conservative Party, U.S, Former U.S, Democratic Party, O’Toole, McGill University, Locations: Monday’s, Quebec, Montreal, Canada, Alberta, Vancouver, U.S, Mexico
“The economy was expected to bounce back as vaccination rates increase and restrictions are eased,” the minutes showed. Yet analysts are also wary given the nature of the Delta variant. “The evidence from other countries that are highly vaccinated shows that even at high vaccination rates, outbreaks may still need to be managed using suppression measures and lockdowns,” said HSBC’s chief Australian economist Paul Bloxham. That means the RBA is set to be “fashionably late” to the global tightening party, says RBC chief economist Su-Lin Ong. Markets are priced for a Federal Reserve hike in late 2022 and the Bank of England also sometime next year.
Persons: , HSBC’s, Paul Bloxham, Su, Lin Ong, Ong, QE, Wayne Cole, Richard Pullin Organizations: Reserve Bank of Australia’s, , RBC, Bank of England Locations: SYDNEY, Sydney, Melbourne, Canberra, , Norway’s, New Zealand
And, when a booster of the Johnson & Johnson COVID-19 vaccine is given, the strength of protection against COVID-19 further increases." "The Johnson & Johnson single-shot COVID-19 vaccine showed vaccine effectiveness against COVID-19-related hospitalizations at 86% for participants younger than 60 years, and 78% for those 60 years and older," the company said. Barouch, who has worked with Janssen to test the vaccine but who was not directly involved in the three studies, said people who got the Johnson & Johnson vaccine should be reassured by the data. Johnson & Johnson has said it will submit all of this data to the FDA for potential consideration for adding a booster dose, and perhaps for consideration to authorize a two-dose regimen. It circulated widely in South Africa but has been outcompeted in the US by Delta, which does not appear to escape immune protection as well.
Persons: Johnson, J's Janssen, Janssen, Mathai, Johnson COVID, Dan Barouch, Beth Israel Deaconess, Barouch, J's, that's, Dr, Sanjay Gupta Organizations: CNN, Johnson, COVID, Janssen Research & Development, US Food and Drug Administration, US Centers for Disease Control, for Virology, Vaccine Research, Moderna, Pfizer, FDA, Get CNN, CNN Health, Delta Locations: United States, Moderna's, South Africa
A version of this story first appeared in CNN Business' Before the Bell newsletter. You can sign up right hereLondon (CNN Business) Global markets are rebounding from a sharp selloff on Monday , when the S&P 500 and the Nasdaq Composite logged their worst performances since May. The CNN Business Fear & Greed Index was last showing a reading of "extreme fear." The Back-to-Normal Index created by CNN Business and Moody's Analytics fell back to 89% as of Sept. 17 as Americans cut back on travel and dining out. Inflation: The Organization for Economic Cooperation and Development upgraded its inflation forecast for 2021 and 2022 on Tuesday.
Persons: We've, Cliff Hodge, Lehman, , Ariana Grande, Taylor Swift, Justin Bieber, Billie Eilish, Marvin Gaye, Frank Sinatra, China's, Bill Ackman's Pershing, Bitcoin, It's, Edward Moya, Nayib Bukele Organizations: CNN Business, Bell, Global, Nasdaq, Cornerstone Wealth, CNN, Organization, Economic Cooperation, Development, FedEx FDX Supply, OECD, BlackRock, Federal Reserve, Universal Music, Universal Music Group, Vivendi, UBS, El, FedEx andfollow Locations: London, Beijing, United States, Amsterdam, Coindesk, China, El Salvador
From July through August, 172 incarcerated people, or 74% of the federal prison's population, were infected with Covid, according to the CDC. The delta variant hit the unvaccinated harder, the agency said, infecting 39 out of the 42 prisoners who hadn't gotten the shots. That compares to the 129 infections out of 185 fully vaccinated people. Four people were hospitalized, three of whom were unvaccinated, and one person died, who was unvaccinated, according to the CDC. The agency said the report demonstrates the potential for delta variant outbreaks in congregate settings, including correctional and detention facilities, even among places and populations with high vaccination coverage.
Persons: hadn't, wasn't, Joe Biden Organizations: CDC, Covid19, Centers for Disease Control, U.S, The, Johns Hopkins University, Pfizer, Drug Administration Locations: Santee , California, April22, Texas, The U.S, U.S
Insider asked four public-health experts what it would take for them to fully return to their pre-pandemic lifestyles. Insider asked four public-health experts for their takes — what they would need to see in order to return to a pre-pandemic lifestyle without worry. George Frey/Getty ImagesDr. Anthony Fauci recently told Axios that the US needs to see fewer than 10,000 daily COVID-19 cases before the virus no longer poses a public-health threat. Eaton isn't focused much on vaccination rates, either. Then once they get the shots, Eaton said, she'll probably hold off on those activities until she hears about fewer COVID-19 cases in her community.
Persons: they're, Rachael Piltch, Loeb, Chris Beyrer, Debbie Bonnett, Mario Tama, he's, Beyrer, Cindy Prins, George Frey, Anthony Fauci, Axios, Prins, ​ ​ Rachael Piltch, aren't, Piltch, Ellen Eaton, Kindergartner Grace Truax, John Moore, we're, Eaton isn't, she's, Eaton, she'll Organizations: Service, Delta, Harvard, of Public Health, Johns Hopkins Bloomberg School of Public Health, Utah County Health Department, University of Florida, Lake Charles Memorial Hospital, Rogers International School, Getty, The University of Alabama, she'll, Boy Scout Locations: Chan, New Orleans, Thailand, South Africa, Utah, Salt Lake City, Alachua County, Lake Charles, Louisiana, Stamford , Connecticut, Birmingham
Disney CEO Bob Chapek hinted that Disney World may soon lift its mask mandate for guests Jeff Gritchen: MediaNews Group: Orange County Register via Getty ImagesDisney fell as much as 5% after CEO Bob Chapek warned about upcoming subscriber results for its streaming products. Chapek added that the delta variant of COVID-19 has contributed to production delays. Disney stock fell as much as 5% Tuesday afternoon after CEO Bob Chapek warned investors that the delta variant surge of COVID-19 is creating production delays and could lead to choppy growth for the Disney+ streaming business. For Disney's fiscal fourth quarter, Chapek expects an increase of low single-digit-millions to its streaming platform ex-Hotstar, which is Disney's streaming service for the Indian market. Meanwhile, Chapek said Disney's Star+ streaming platform in Latin America is off to a slow start.
Persons: Bob Chapek, Jeff Gritchen, Goldman Sachs, Chapek, HBO Max, Rich Greenfield Organizations: Disney, MediaNews, Orange, Getty Images Disney, Bell, Wall, Media, Netflix, HBO, Lightshed Partners Locations: America
The FAA has asked airlines to step up their efforts to curb passenger violence on planes. The FAA has received about 4,000 reports of unruly passenger violence between January and September. Flight attendants union leader Sara Nelson has asked the FAA to take more action to protect workers. The FAA met with trade groups representing Delta, American, United, and other airlines on Tuesday regarding the country's passenger violence crisis, Reuters reported. The FAA has received about 4,000 reports of unruly passenger violence between January and September 2021.
Persons: Sara Nelson, Steve Dickson, they've, Nelson Organizations: FAA, Service, Federal Aviation Administration, Reuters, Aviation, Airlines, Regional Airline Association, National Air Carrier Association, Department of Justice Locations: Delta, America
JetBlue JBLU American Airlines AAL andlast year created the "Northeast Alliance" that operates out of four major airports in Boston and New York City. "The department cannot allow American Airlines to further consolidate the airline industry where competition is already in a critical shortage," Acting Assistant Attorney General Richard A. Delta DAL United UAL Southwest LUV American Airlines is the largest airline in the world that, along withand, collectively controls more than 80% of domestic air travel, according to the DOJ. Prior to the alliance, JetBlue had challenged American Airlines at Northeast airports. "Consumers will be better off if American and JetBlue continue to be fierce competitors, not allies," Powers said.
Persons: JetBlue JBLU American Airlines AAL, Richard A, Powers, Read Organizations: CNN, Department of Justice, JetBlue JBLU American Airlines, DOJ, American Airlines, Justice Department's Antitrust Division, Delta DAL United, LUV, Airlines, JetBlue Locations: United States, Boston, New York City
Senator Dick Durbin (D-IL) arrives to the U.S. Capitol in Washington, U.S., August 8, 2021. REUTERS/Elizabeth FrantzWASHINGTON, Sept 20 (Reuters) - Two senior U.S. Senate Democrats urged Attorney General Merrick Garland on Monday to investigate and prosecute unruly air passengers in the face of a rising number of incidents onboard airplanes. "Civil penalties alone are failing to deter criminal activity by airline passengers," Durbin and Cantwell wrote in the letter to the FAA. In June, a group representing major U.S. airlines such as American Airlines (AAL.O), Delta Air Lines (DAL.N) and United Airlines [RIC:RIC:UALCO.UL], and aviation unions also asked Garland to prosecute the growing number of disruptive and violent air passengers. To date this year, there have been 4,284 reports of unruly passenger incidents, including 3,123 that were mask-related.
Persons: Dick Durbin, Elizabeth Frantz WASHINGTON, Merrick Garland, Maria Cantwell, Durbin, Cantwell, Justice Depatment, Garland, Steve Dickson, Donald Trump, David Shepardson, Karishma Singh Organizations: U.S, Capitol, REUTERS, Justice Department, Federal Aviation Administration, FAA, Justice, American Airlines, Delta Air Lines, United Airlines, Airlines, House Transportation, Infrastructure, Rage, Workers, Thomson Locations: Washington , U.S, America, Airports
It also gives the big three air carriers, American Airlines (AAL.O), United Airlines (UAL.O) and Delta Air Lines (DAL.N), a chance to recover part of their trans-Atlantic business. Overall, international travel generated 26% to 38% of revenue for the three airlines in 2019, said Colin Scarola, vice president equity research at CFRA Research. The lifting of restrictions coincides with the onset of winter season, historically a lean period for international travel. In early September, U.S. airline passenger volumes for international travel were just 44% of the pre-pandemic levels, according to data from Airlines for America, an industry trade group. Syth expects domestic business travel to remain below the 2019 levels at least until late 2022. International business travel is not expected to recover before 2024, she said.
Persons: Colin Scarola, Scarola, Doug Parker, Savanthi, Raymond James, David Shepardson, David Gregorio, Chris Sanders Organizations: JetBlue, JFK International Airport, REUTERS, Biden, American Airlines, United Airlines, Delta Air Lines, Moody's, Atlantic, CFRA Research, COVID, Airlines for America, New York United, Thomson Locations: London, Queens, New York City , New York, U.S, United States, Chicago, New, Washington
Wall St tumbles on growth worries; focus turns to Fed
  + stars: | 2021-09-20 | by ( Devik Jain | ) www.reuters.com   time to read: +3 min
People wearing face masks walk by the New York Stock Exchange (NYSE) during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., July 19, 2021. The CBOE volatility index (.VIX), known as Wall Street's fear gauge, hit its highest level in a month. read moreDeclining issues outnumbered advancers for a 11.26-to-1 ratio on the NYSE and for a 9.38-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and one new low, while the Nasdaq recorded five new highs and 95 new lows. Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, David Bahnsen, Morgan Stanley, advancers, Devik Jain, Sagarika, Arun Koyyur, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Energy, Dow, Nasdaq, Federal Reserve, Treasury, Microsoft Corp, Google, Alphabet Inc, Amazon.com Inc, Apple Inc, Tesla Inc, Dow Jones, Carriers United Airlines, Delta Airlines, American Airlines, Reuters, European Union, NYSE, Thomson Locations: New York City , New York, U.S, Newport Beach , California, United States, Britain, Bengaluru
FILE PHOTO: People wearing face masks walk by the New York Stock Exchange (NYSE) during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., July 19, 2021. REUTERS/Andrew KellyFutures tracking the blue-chip Dow index, which mainly comprises stocks reliant on a steady economic recovery, were down 1.6% at 6:51 a.m. [nL1N2QI1L8]“In the run-up to Fed meetings, investors are nervous, volatility rises, then the Fed surprises dovishly and volatility declines again,” analysts at Berenberg wrote in a note. [MKTS/GLOB] [nL1N2QM02L]Economy-linked banking stocks including Morgan Stanley, JPMorgan Chase & Co and Bank of America Corp slid between 2.2% and 3%, tracking U.S. Treasury yields. [US/]A slate of U.S.-listed Chinese stocks including Weibo Corp, Bilibili Inc, Vipshop Holdings Ltd and Pinduoduo Inc shed between 3.4% and 5.4% amid a widening regulatory crackdown in China.
Persons: Andrew Kelly, Berenberg, Morgan Stanley Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Andrew Kelly Futures, Energy, Chevron, Exxon Mobil, industrials Boeing Co, Caterpillar Inc, Nasdaq, JPMorgan Chase & Co, Bank of America Corp, Treasury, Weibo Corp, Bilibili Inc, Vipshop Holdings, Pinduoduo Inc, United Airlines, American Airlines and Delta Airlines Locations: New York City , New York, U.S, China
The benchmark S&P 500 is on track to snap a seven-month gaining streak. [nL1N2QI1L8]“The wall of worry is simply getting higher,” said Sam Stovall, chief investment strategist at CFRA Research in New York. ET, Dow e-minis were down 689 points, or 2%, S&P 500 e-minis were down 80 points, or 1.81%, and Nasdaq 100 e-minis were down 270.5 points, or 1.76%. Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%. The CBOE volatility index, known as Wall Street’s fear gauge, hit its highest level in more than four months.
Persons: Andrew Kelly, Morgan Stanley, , Sam Stovall, Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Chevron, Exxon Mobil, Boeing Co, Caterpillar Inc, JPMorgan Chase & Co, Bank of America Corp, Treasury, Research, Dow e, Nasdaq, Microsoft Corp, Google, Inc, Amazon.com Inc, Apple Inc, Tesla Inc, United Airlines, American Airlines and Delta Airlines Locations: New York City , New York, U.S, New York
Wall St drops 2% on growth worries; focus turns to Fed?
  + stars: | 2021-09-20 | by ( Devik Jain | ) www.reuters.com   time to read: +3 min
Technology-related stocks Microsoft Corp, Google-owner Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc were down between 2.2% and 4.1%, weighing the most on the benchmark S&P 500 and the Nasdaq. Wall Street’s main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked. The S&P 500 is down 4.1% from its intra-day record high hit on Sept. 2 and is on track to snap a seven-month winning streak. Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%. The CBOE volatility index, known as Wall Street’s fear gauge, hit its highest level in over four months.
Persons: Andrew Kelly Ten, Evergrande, , Jamie Cox, “ Rather, Morgan Stanley, advancers Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Treasury, Microsoft Corp, Google, Inc, Amazon.com Inc, Apple Inc, Facebook Inc, Tesla Inc, Nasdaq, Harris Financial Group, Dow Jones, Carriers United Airlines, Delta Airlines, American Airlines, NYSE Locations: New York City , New York, U.S, Richmond , Virginia, Congress, United States, China, India, Britain
Wall St drops 2% on growth worries; focus turns to Fed
  + stars: | 2021-09-20 | by ( Devik Jain | ) www.reuters.com   time to read: +3 min
Technology-related stocks Microsoft Corp, Google-owner Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc were down between 2.2% and 4.1%, weighing the most on the benchmark S&P 500 and the Nasdaq. Wall Street’s main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked. The S&P 500 is down 4.1% from its intra-day record high hit on Sept. 2 and is on track to snap a seven-month winning streak. Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%. The CBOE volatility index, known as Wall Street’s fear gauge, hit its highest level in over four months.
Persons: Andrew Kelly Ten, Evergrande, , Jamie Cox, “ Rather, Morgan Stanley, advancers Organizations: Reuters, Federal Reserve, New York Stock Exchange, REUTERS, Treasury, Microsoft Corp, Google, Inc, Amazon.com Inc, Apple Inc, Facebook Inc, Tesla Inc, Nasdaq, Harris Financial Group, Dow Jones, Carriers United Airlines, Delta Airlines, American Airlines, NYSE Locations: New York City , New York, U.S, Richmond , Virginia, Congress, United States, China, India, Britain
We need you backREUTERS/Ryan RemiorzIn the months leading up to the terrorist attacks, several senior Delta Force operators decided to retire or leave. "I began work as a contractor to the Department of Energy in May of 2001, having retired from the Delta force in January of 2001," George Hand, a retired Delta Force operator, told Insider. Delta Force operators in Afghanistan, their faces censored to protect their privacy. Delta operators overcame logistical and operational challenges, and the mission was a success, even though Omar wasn't there. Delta Force showed that even in the face of uncertainty and complexity, Americans would avenge a devastating attack on US soil.
Persons: Ryan Remiorz, JSOC, George Hand, Dalton Fury, Delta, Mullah Omar, Al Qaeda, Tora Bora, SecDef, Omar wasn't, Doolittle, Stavros Atlamazoglou Organizations: US Army's Delta Force, Delta Force, Service, World Trade Center, Operations Command, Army's Delta Force, Warfare Development Group, Special Operations Aviation Regiment, Senior, Department of Energy, Delta, Army, Unit, America Delta Force, US Defense, Pentagon, Taliban, Army Special Forces, CIA, Rangers, Rhino, Boat Service, CBS, Defense Department, White, Hellenic Army, 575th Marine Battalion, Johns Hopkins University Locations: Afghanistan, US, China, Russia, Delta, Al Qaeda, Kandahar, Europe
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