Stock futures sink after rate cut, new virus restrictions
Stocks are set for more turbulence following a dizzying week that saw the Dow twice fall by more than 2,000 points and also record it’s biggest point gain ever—1,985 points on Friday.
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Fed slashes rate to near zero, eases lending rules
The central bank said the effects of the outbreak will weigh on economic activity in the near term and pose risks to the economic outlook.
With unprecedented force and speed, a global recession is likely taking hold
Across the country, consumer spending—which supports 70% of the economy—is grinding to a halt as fears of the escalating coronavirus pandemic keep people from stores, restaurants, movie theaters and workplaces.
BEHIND THE NEWS: Trying to make sense of market mayhem
There’s little money to be made—and lots to be lost—by losing their cool when stocks go south, as they did to a historic magnitude over the past week.
As central banks intervene to calm markets, few see solution
On Thursday, the Fed unveiled a massive short-term lending program to try to help smooth trading in U.S. Treasuries. Many economists now expect the Fed to slash its benchmark interest rate by a full percentage point, to nearly zero, at its policy meeting next week.
The mighty bull market falls victim to a tiny virus
The bull officially ran from March 9, 2009, until Feb. 19, 2020, when it began the 26.7% dive that as of Thursday has taken it into bear market territory.
Dow suffers biggest percentage drop in 33 years
The Dow industrials plunged more than 2,300 points, or 10%—the latest in a series of steep drops that have wiped out most of the big run-up on Wall Street since President Donald Trump’s inauguration.
Dow plummets again as selloff over the coronavirus deepens
The coronavirus crisis sent stocks into another alarming slide on Wall Street on Thursday, triggering a brief, automatic shutdown in trading for the second time this week.
Markets plummet again as coronavirus fears escalate
The losses accelerated after health authorities declared the outbreak a pandemic, and brought the U.S. stock market to the end of one of its greatest-ever runs.
Local software firm Woven scores $2.5M in seed funding
The venture capital round was led by Indianapolis-based High Alpha Capital with participation from existing investors and Elevate Ventures.
Former downtown payroll firm owner gets six years for defrauding clients
David Downey, 51, who ran Time Payroll from 2009 to 2017, was ordered to pay back nearly $9 million for a scheme that defrauded clients in multiple states.
Fair Finance bankruptcy trustee loses high-stakes jury trial against deep-pocketed lender
The verdict was a huge setback for the 5,200 mom-and-pop Ohio investors who lost more than $200 million in a Ponzi scheme engineered by Indianapolis businessman Tim Durham.
Dow surges 4.9% in another wild day for stock market
Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.
Feds say Fifth Third opened fake accounts like Wells Fargo
Fifth Third said it had already investigated the allegations and called the fraudulently opened accounts “a limited and historical event.”
Dow drops 7.8% as crashing oil prices, virus fears slam markets
The Dow Jones industrial average on Monday suffered its steepest drop since the financial crisis of 2008.
UPDATE: Virus fears, crashing oil prices take toll on stock market
The steep drop followed similar falls in Europe after a fight among major crude-producing countries jolted investors already on edge about the widening fallout from the outbreak of the new coronavirus.
STAR Bank debuts Monument Circle office
The bank is leasing a three-story, 12,500-square-foot space at 46 Monument Circle that formerly housed employees of Indianapolis Monthly.
Centerfield invests in California company
Centerfield provided debt and an equity co-investment to support The Courtney Group’s purchase of Tenacore.
World economy faces worst year since ’09 as virus fears grow
Just weeks since most economists bet the China-led slump would quickly reverse once the virus was contained, many are rethinking that optimism as swathes of Chinese factories stay shut and workers idled.
Mortgage brokers hiring like mad to handle demand as rates plunge
Executives at four of the nation’s 15 biggest mortgage lenders, already gearing up for a busy 2020, anticipate hiring thousands of employees this year to keep up with what they expect to be a flood of demand.