NEW YORK, May 4 — US stocks were set to fall today as a US-Chinese spat about the origins of the coronavirus outbreak worsened while billionaire Warren Buffett’s admission he had dumped his airline shares crushed major US carriers. Delta Air Lines, American Airlines Co, Southwest Airlines Co...
Monday, 04 May 2020 09:39 PM MYT
Delta Air Lines, American Airlines Co, Southwest Airlines Co and United Airlines fell between nine per cent and 11 per cent in premarket, after Berkshire Hathaway chief Buffett told reporters of the move over the weekend, saying “the world has changed” for the industry. “I did not get the sense that he sees an enormous amount of opportunity out there right now, but is instead holding up a very high level of cash,” he said.
The S&P 500 index’s 29 per cent recovery from its March lows stands to be tested as investors weigh renewed US-China tensions and the economic damage of the health crisis.
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