Apr 4, 2018

Dow makes major comeback after morning losses

Traders and financial professionals work on the floor of the New York Stock Exchange . Photo: Drew Angerer/Getty Images)

The Dow closed up nearly 750 points from Wednesday's lows, erasing morning losses on fears of a trade war with China after representatives from the Trump administration suggested that there could be a negotiated solution to the tariff proposals.

Why it matters: The swing marks a third volatile day in the market after stocks took a hit amid issues in the tech sector and China’s tariffs announcement.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

Global: Total confirmed cases as of 2 p.m. ET: 1,066,706 — Total deaths: 56,767 — Total recoveries: 223,697 — Map.
U.S.: Total confirmed cases as of 2 p.m. ET: 258,214 — Total deaths: 6,605 — Total recoveries: 9,408 — Map.
Business latest: Mark Cuban criticizes "arrogant" 3M on respirator production — The wartime mobilization effort to produce ventilators and medical supplies got started too late.
Politics latest: Lawmakers on both sides of the aisle are worried about the difficulties of delivering the $2.2 trillion in stimulus aid.
Jobs update: The U.S. lost 701,000 jobs in March, but the new report doesn't reflect the height of the virus' impact on the economy.
World update: About half of the deaths worldwide are in Italy and Spain, with fatalities exponentially increasing across Europe.
What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Keep ReadingUpdated 16 mins ago - Politics & Policy

Fadel Allassan

Mark Cuban criticizes "arrogant" 3M on respirator production

Photo: Axios Events

Businessman and Dallas Mavericks owner Mark Cuban said during an Axios virtual event Friday that 3M is "arrogant" for not speaking up about respirator production in the midst of the coronavirus outbreak.

What he said: Cuban criticized the company for "making more globally than domestically," echoing a similar line from President Trump now that the U.S. is the epicenter of the pandemic. "You can't ghost the American people," he told Axios CEO Jim VandeHei from Dallas.

Go deeper25 mins ago - Economy & Business

Joann Muller

Coronavirus puts ambitious plans for self-driving cars on the shelf

Illustration: Sarah Grillo/Axios

In two weeks, the coronavirus has brought the entire U.S. auto industry to a screeching halt. When it finally sputters back to life, many companies may be forced to change, defer — or even abandon — their ambitious plans for self-driving vehicles.

The big picture: Auto factories are shut down across North America to prevent the spread of the virus among workers, while stay-at-home orders have kept car shoppers away from showrooms. The resulting financial shock means carmakers have shifted their focus to survival, not investing in expensive technologies with no clear payoff.

Go deeper1 hour ago - Economy & Business