The comments, and fall in airline operators, also shaved more than 4.7 per cent off planemaker Boeing Co’s shares. On China, US Secretary of State Mike Pompeo said there was “a significant amount of evidence” that coronavirus emerged from a Chinese lab. The statements follow a grim start to May for Wall Street last week as President Donald Trump revived the threat of new tariffs against China in response to the pandemic. Read Now »The S&P 500 index’s 29 per cent recovery from its March lows stands to be tested as investors weigh renewed US-China tensions and the economic damage of the health crisis. With more than half of the S&P 500 companies having reported earnings so far, analysts now see first-quarter S&P 500 earnings falling 12.7 per cent from a year ago, and an even sharper 37.8 per cent decline for the second quarter.

Source: Standard Digital May 05, 2020 13:30 UTC