Stock Markets Slide as New Outbreaks Emerge: Live Updates

On Monday, investors were reacting in part to bad news out of China, where some monthly economic indicators were weaker than expected, and where officials are battling a new spate of coronavirus cases in Beijing. In the United States, Arizona, Texas and Florida have also reported higher infection numbers, and Gov. Andrew M. Cuomo of New York said that the state might have to reinstate lockdown conditions.

In Europe, governments continued to loosen economic restrictions on Monday, with nonessential retailers in Britain now allowed to open their doors and travel restrictions easing among several European Union countries.

Here’s the business news to watch this week.

🗣 Jay Powell, the Fed chairman, discusses the central bank’s latest economic report to committees at the Senate (Tuesday) and House (Wednesday). His downbeat outlook spooked markets last week, and he will most likely hint that lawmakers should be as aggressive as the Fed in propping up the U.S. economy.

🏦 In other central banking news, the Bank of Japan isn’t expected to unveil any new stimulus measures at its policymaking meeting on Tuesday, while the Bank of England will probably announce on Thursday a boost to its bond-buying program.

📈 On Tuesday, data for U.S. retail sales and industrial production are expected to show increases in May, following steep declines in April.

Article source: https://www.nytimes.com/2020/06/15/business/stock-market-today-coronavirus.html