Market Recap: Thursday, March 12
In this article:
All three indexes closed lower amid coronavirus fears, with the Dow having the single worst day since 1987, dropping over 10%. All three indexes closed well into a bear market.
Advertisement
Recommended Stories
Suze Orman Decided To Drop Homeowners Insurance After An Outrageous Quote: '$28,000 For A 2,100-Square-Foot Condo. Are You Kidding Me?'
Finance expert Suze Orman has voiced concerns about the impact of climate change on property insurance costs, asserting it could threaten the American dream of homeownership. Orman, 72, faced a $28,000 annual insurance quote for her Florida oceanside condo, leading her to forego coverage entirely. She highlights a troubling trend where soaring insurance costs driven by frequent and severe weather events may deter Americans from buying homes. Don't Miss: For many first-time buyers, a house is abo
Benzinga•$433 Billion Gone! One Stock Loses More Value Than Tesla
Tesla's loss of $328.3 billion this year in stock value certainly hurts. But it's only the second-largest market value loss in the S&P 500.
Investor's Business Daily•JPMorgan’s ‘Bloody Friday’: Why Several Top Financial Advisors Jumped Ship the Same Day
Six teams managing nearly $15 billion in total assets quit JPMorgan Chase’s brokerage unit to join competitors last Friday. Here’s what may have triggered their departures.
Barrons.com•Want Decades of Passive Income? 2 Energy Stocks to Buy Now and Hold Forever
The energy sector is going through a big transition, but these two industry giants are trying to change along with it.
Motley Fool•Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
(Bloomberg) -- Seven property insurers in Florida went bankrupt in 2021 and 2022. The bankruptcies left thousands of homeowners scrambling to get new coverage, which often came with a big increase in cost. Worse, many had outstanding claims for hurricane damage that had not been addressed.Most Read from BloombergTaylor Swift Is Proof That How We Critique Music Is BrokenBiden’s New Chopper Is Demoted After Scorching White House LawnBiden’s Gains Against Trump Vanish on Deep Economic Pessimism, Po
Bloomberg•Oracle to Move Headquarters Again, This Time to Nashville
CEO Larry Ellison said the relocation will help the company better integrate with the healthcare industry.
The Wall Street Journal•Russian court orders seizure of JPMorgan Chase funds in VTB lawsuit
A Russian court has ordered the seizure of funds in JPMorgan Chase bank accounts in Russia, court filings showed on Wednesday, in a lawsuit filed by state-owned bank VTB as it seeks to regain funds blocked abroad. JP Morgan Chase last week sued VTB in New York to halt its efforts to recover $439.5 million from an account that was blocked after Russia despatched its army to Ukraine in 2022 and VTB was hit with sanctions.
Reuters•Vertiv Spikes On Earnings, Orders. It's A Good Sign For These AI Stocks.
Data-center coolant systems specialist Vertiv soared Wednesday on strong earnings. It's a good sign for AI stocks like Nvidia and Super Micro.
Investor's Business Daily•The IRS says it’s going after wealthy tax cheats. Here’s what new audit stats show.
After Congress approved billions of extra funding for tax compliance, the Internal Revenue Service pledged it would get tougher on rich taxpayers and corporations while avoiding extra scrutiny of middle-class households.
MarketWatch•Forget Bank of America; Buy This Magnificent Bank Stock Instead
This up-and-coming digital bank is ready to start generating outsized profits.
Motley Fool•