Finance

The world’s 500 richest people have lost almost $1.3 trillion since the start of the year.

“[By extending the tax deadline], they automatically extended the deadline to make an IRA contribution last year,” an expert says.

We've had many chances to learn, from the dot-com bust to the 2008 financial crisis. But the storm is perhaps most applicable to our current situation.

In need-for-speed markets lashed by the spreading coronavirus, this breed of rules-based trading is paying off.

Market plunges are normal and stocks are likely to recover and earn a positive return over the long term, says an expert.

Moody’s lowered the giant IBD network’s credit rating with sobering words that could resonate across wealth management.

Moody’s affirmed the company’s “B3” rating but signalled the potential wide-reaching impact of the pandemic across wealth management.

“We’re going to see more restructuring of deal terms,” says investment banker Steve Levitt.

The firm had received margin calls from counterparties including BNP Paribas after its trades went awry, people familiar with the matter said.

Clients are advised to keep some of their savings in cash and focus on their long-term prospects.