Tag: bumpy

US stocks fall as another bumpy week of trading nears end

Stocks are falling in afternoon trading on Wall Street Friday, as another zig-zag week for markets closes out following their abrupt loss of momentum this month

NEW YORK — Stocks are falling in afternoon trading on Wall Street Friday, as another zig-zag week for markets closes out following their abrupt loss of momentum this month.

The S&P 500 was down 1% and is on pace for its third straight weekly loss.

The Dow Jones Industrial Average fell 150 points, or 0.5%, to 27,759, as of 12:43 p.m. Eastern time, and the Nasdaq composite fell 1.7% after initially eking out a gain earlier in the day. Smaller stocks also fell, with the Russell 2000 index of small caps down 0.7%.

Analysts warned that

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Willie Walsh braces for a bumpy last ride in the airline business | Airline industry

Willie Walsh is not quite enjoying the retirement he had planned. When his departure was announced in January, he had just led British Airways owner IAG to a €2.3bn pre-tax profit for 2019, its share price was moving back towards all-time highs, and as one of the FTSE 100’s longest-serving chief executives, he was preparing to step down in March.

Fast-forward eight months and the world looks very different. After pushing back his leave date when the severity of Covid-19 became clear, Walsh will finally hand over the controls at IAG’s delayed annual meeting on Tuesday, at a time when the airline industry appears permanently changed by the pandemic and British Airways is flying only a fifth of its pre-crisis schedule. Instead of churning out profits, IAG made a €4.2bn loss in the first half of 2020, and Walsh himself will leave under the cloud of a potential shareholder

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