Here Come the Bailouts, Starting With the Airlines

• Unprecedented volatility in the markets pushed the VIX index — Wall Street’s “fear gauge” — to a record high. Some think automated trading strategies are making market swings more violent. Belgium, France, Italy, Spain and South Korea have introduced curbs on short-selling in an effort to calm their markets.

• Transportation accounts for two-thirds of global oil demand. With practically nobody traveling, trade slowing, and the Saudi-Russian price war flooding the market with unneeded crude, the Eurasia Group says global oil consumption could fall by 25 million barrels per day in the second quarter, to 75 million.

• Many of these assumptions depend on how widely the virus spreads, and especially its mortality rate. The NYT Upshot team put a range of estimates and assumptions into an interactive tool, putting the numbers in context.

Today in hand sanitizer news …

One of the most sought-after commodities these days is the alcohol-based goo, and businesses are responding to shortages of the stuff.

• Air Liquide, which was already in the process of selling a division that makes sanitizer, has reportedly upped its asking price for the business, Kaye Wiggins of the FT reports.

• Distilleries are making their own hand sanitizers — they already have the necessary base alcohol, after all — and are giving them away. In addition to clean hands, these varieties feature the aromas of juniper, citrus, coconut and piña colada.

More coronavirus news:

• Amazon is hiring 100,000 delivery and warehouse workers to keep up with demand from people ordering things from home. (WSJ)

Article source: https://www.nytimes.com/2020/03/17/business/dealbook/coronavirus-airline-bailouts.html