U.S. prime money-market funds have lost more than 10% of their assets and the prospect of funds slowing customer redemptions is rising amid unprecedented market turmoil, top credit-rating agency Moody's Corp said on Thursday.
Billionaire investor William Ackman, who has long worried about risks posed by the coronavirus, called on the Trump administration on Wednesday to seal off the country for 30 days and said stocks would "soar" if such restrictions were imposed.
The breathtaking coronavirus-induced plunge of the stock market has unnerved retirement investors of all ages, but it poses special risks for people close to, or already retired. Unlike younger workers with many years ahead of earning and saving, older investors are less able to fall back on income from work and may have less ability to wait out their losses.
A tiny mutual fund that invests in companies that produce products and services for parents is the only fund among the $4.3 trillion actively managed U.S. equity fund industry to post a positive return for the year to date through Monday, according to Morningstar data.
A rush to sell global bonds in the past week has now rippled into the world of exchange-traded funds with some of the most actively traded seeing the most bulging gaps relative to the value of underlying holdings in years.
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