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News Highlights: Top Global Markets News of the Day

06/24/2020 | 11:16pm
Stock-Market Surge Masks Volatility in Individual Sectors 

The S&P 500 is on track for its best quarter since 1998, but despite the dramatic rebound, many sectors are still struggling to find steady footing.

Fed's Evans: Recovery Will Take Time, Expects Coronavirus-Related Setbacks 

The Chicago Fed leader says more may be needed from monetary and fiscal policy.

Tariffs on European Food Could Expand Under New U.S. Proposal 

The Trump administration is considering expanding and raising tariffs on $7.5 billion of food imports from the European Union and U.K., part of a long-running dispute that faults European countries for subsidizing aircraft manufacturer Airbus.

Coronavirus Cases Are Accelerating Across U.S. 

Covid-19 cases are accelerating around the country, reaching new daily highs in states including Texas and Arizona and spurring concerns about prospects for an economic and social revival.

U.S. Stocks Drop as Coronavirus Infections Surge 

Several states reported new daily records of infections, adding to concerns about a second wave of cases around the world that could lead to renewed restrictions on business activity.

U.S.-China Tensions Leave Germany Squirming in the Middle 

Germany is struggling to pick sides in the escalating dispute between the U.S. and China over issues ranging from trade to human rights, amid mounting American pressure and Beijing's authoritarian drift.

Coronavirus Costs Canada a Triple-A Rating 

Canada has become the first triple-A-rated sovereign entity to lose its rating because of the economic downturn and the extraordinary fiscal response triggered by the coronavirus pandemic.

IMF Downgrades Already-Glum Economic Outlook Due to Coronavirus 

Economists at the International Monetary Fund now say the global economy will contract even more sharply than they expected in estimates released in April, which called for the steepest recession since the Great Depression.

Soybean Prices Rally as China Ramps Up Buying 

China has ramped up its purchases of U.S. soybeans recently, sparking a rebound in prices and making the crop profitable again for U.S. farmers after the coronavirus pandemic had slammed demand.

U.S. Crude-Oil Inventories and Production Increase 

Crude-oil stockpiles rose by 1.4 million barrels, reaching a record-high for the third straight week, and U.S. oil production rebounded from a tropical storm-caused decline, government data showed.


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