Warren Buffett abandons US airline stocks, claims “world has changed” after Covid-19 | News from the world


Warren Buffett, the legendary American investor, has sold all of his company’s holdings in the top four US airlines, warning that the aviation industry “has changed” because of the coronavirus crisis.

In comments that will send shockwaves to the financial markets already pulverized by the economic shock of the outbreak, Buffett said the outbreak could have an “extraordinarily wide” range of possible outcomes.

Around the world, stocks are ready for another scorching week as global virus cases approach 3.5 million and deaths nearly 250,000. Despite massive intervention by the central bank and the government, the markets Scholars were shaken by the continued spread of Covid-19, the drop in oil prices and Donald Trump’s threats to reignite his trade war with China.

Buffett, 89, who has become known as the Sage of Omaha for his investment skills over the decades, said he believed stock markets had not bottomed out today.


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