FT News Briefing Tuesday, March 3
Mar 3, 2020
US stocks have bounced back, ending a seven-day losing streak as investors anticipate support from central banks in light of the coronavirus. Waymo raises $2.3 billion from investors, showcasing the growing interest in driverless technology. The complexities of UK-EU trade talks are highlighted, with discussions around Brexit's impact on regulatory standards. As the deadline for an agreement approaches, potential trade chaos looms, particularly concerning customs and negotiations with the US.
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Market Rebound
- US stocks rebounded after a 7-day losing streak.
- Investors hope central banks will soften the economic blow of the coronavirus.
Market Gains
- The Dow Jones, S&P 500, and NASDAQ all saw significant gains.
- Colby Smith attributes this to increased expectations of central bank intervention.
Central Bank Intervention
- Central bank intervention is expected to shore up the global economy.
- A 50 basis point cut from the Federal Reserve is anticipated, potentially even an emergency cut.