LIVE StockMarketUpdates: Stocks surged at the open, one day after posting their worst day since the Oct. 1987 crash.
8:27 am: Warren Buffett says Berkshire's annual meeting will be held without shareholders in attendanceBerkshire Hathaway's annual shareholder's meeting will not be held with shareholders present"I very much regret this action; for many decades the annual meeting has been a high point of the year for me and my partner, Charlie Munger," Buffett said in a letter to shareholders.
"Therefore, we will limit attendance to me, possibly Charlie, and several Berkshire employees who will deliver proxy votes," Buffett noted. Berkshire's annual meeting has become a staple in the global business community. In 2018, more than 40,000 people from around the world attended the event known by some as "Woodstock for Capitalists.
$1.5 trillion into the financial system in an effort to combat potential freezes brought on by the coronavirus , but the Street didn't think it was enough and stocks posted their worst day since the Oct. 1987 crash. One part of the announcement saw the Fed widen the scale for its $60 billion a month worth of money the Treasury purchases, which to now had been confined to short-term T-bills. Under the new regime, the Fed will extend its purchases "across a range of maturities" to include bills, notes, Treasury Inflation-Protected Securities and other instruments.
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