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.
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.
The Dow Jones industrial average on Monday suffered its steepest drop since the financial crisis of 2008.
Health care stocks led the market’s spurt Wednesday after a strong performance by Joe Biden on Super Tuesday. Among the biggest gainers was Indianapolis-based health insurer Anthem Inc., with a stock surge of 13.4%.
U.S. stocks rebounded from an early fall Tuesday, then sank again, after the Federal Reserve made an emergency rate cut to help support the economy from the impact of the coronavirus outbreak.
Coming off Wall Street’s worst week since the 2008 financial crisis, the Dow Jones industrial average rose nearly 1,300 points, closing up 5.1%, its largest percentage gain since March 2009.
Big technology companies like Apple are still among the most vulnerable due to disruptions in supply chains and business closures in China, but the sector led the way higher Monday.
The market clawed back much of its intraday losses in the last 15 minutes of trading. Bond prices soared as investors sought safety, pushing yields to record lows.
The three major U.S. stock indexes now are in correction territory, a 10% reversal from recent highs.
The benchmark S&P 500 has lost 7.6% over the last four days, its worst such stretch since the end of 2018. Tuesday also marked the first back-to-back 3% losses for the index since summer 2015.
The selling wiped out all of the Dow Jones industrial average’s gains for the year. The major U.S. stock indexes all fell more than 3%.
The Dow Jones industrial average slumped more than 3% and gave up all of its gains for the year as a surge in virus cases and a worrisome spread of the disease outside the epicenter in China sent investors running for safety.
A former wealth adviser at David A. Noyes & Co. in Indianapolis has filed a sex discrimination lawsuit against the financial firm and longtime firm executive L.H. Bayley, 84.
The biggest takeover by a major U.S. bank since the 2008 financial crisis combines Morgan Stanley’s prowess and client-facing resources with E-Trade’s more than 5 million customers.
The tech giant is warning investors that it won’t meet its second-quarter financial guidance because of the viral outbreak.
David Simon said Simon Property Group’s ability to buy a company for $3.6 billion in cash without having to turn to a third party for financing and without suffering credit rating downgrades is a testament to the underappreciated strengths of the business.
Surging markets around the world were a big reason for the growth: The S&P 500 index had one of its best years in decades with a 31.5% return. But workers’ better savings habits also played a big role.
Health experts don’t know how far the virus will spread and how bad the crisis will get, yet stocks are rallying as if investors are expecting no more than a modest hit to the global economy.
Technology companies and banks led a broad rally for U.S. stocks in midday trading Tuesday following solid gains overseas as China took more steps to soften the financial impact of the virus outbreak.
Technology companies led U.S. stocks higher in midday trading Monday as global markets mostly calmed down following a sharp sell-off last week over worries about the spreading virus outbreak in China.
