Ebola Catches Blame for S&P 500's Worst Three-Day Drop Since 2011
Photo Credit: Spencer Platt / Getty Images via BloombergBy Joseph Ciolli and Oliver Renick.
U.S. stocks sank, erasing earlier gains and capping the worst three-day loss for the Standard & Poor’s 500 Index since 2011, as investors weighed prospects for slowing global growth and the spread of Ebola…
“It seemed like we were finally having a little slowing in selloff momentum, but obviously the bears won out here,” Joe Bell, a senior equity analyst in Cincinnati at Schaeffer’s Investment Research Inc., said by phone. Ebola is adding to “overall uncertainty and fear amongst Americans. Energy and oil are continuing to take a beating and are leading the market lower.”
Benchmark stock indexes fluctuated between gains and losses for much of the day before extending declines in the final two hours of trading as the S&P returned below its 200-day average. Medical crews surrounded an Emirates Airline plane at Boston’s Logan Airport and five passengers aboard the flight from Dubai were taken off, WCVB reported, though there was no indication the sick travelers had Ebola…
A rout in global equities wiped $1.54 trillion from shares last week, with the S&P 500 tumbling 3.1 percent for its worst drop in two years, amid growing concern of an international economic slowdown. Chicago Fed President Charles Evans today reiterated his concern that inflation may rise only slowly to the U.S. central bank’s 2 percent goal and said policy makers should be “exceptionally patient” in adjusting monetary policy…
The International Monetary Fund cut its forecast for global growth last week and said the euro area faces the risk of a recession. The IMF also said that the chances of equity losses in 2014 have risen and stock valuations may be “frothy.” European Central Bank President Mario Draghi said last week that there are signs the euro-area’s economic growth is slowing.
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Metro bus driver quarantined after passenger yells ‘I have Ebola!’
By VERONICA ROCHA.
A metro driver has been quarantined and the bus he was operated taken out of service after a masked passenger began yelling, “Don’t mess with me, I have Ebola!”
Metro officials said they are working with Los Angeles County sheriff’s transit authorities to review surveillance footage taken from inside the bus to determine the identity of the masked passenger, who was accompanied by a woman, Metro spokesman Marc Littman said.
The Monday afternoon incident is being investigated as a possible terrorist threat because of the fear it incited, he said.
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