A pledge by the US central bank, the Federal Reserve, for a massive spending spree of all types of US debt failed to put the brake on the global stock market sell-off, suggesting that investors are looking for huge government spending programmes and not just market-calming initiatives by central banks.

US stocks fell tonight as New York State followed California in ordering non-key workers to stay at home and the UK caught up with the rest of Europe by ordering the closure of pubs and cafes to fight the deadly Covid-19 outbreak.

Investors and banks across the world have handed the Irish State €1bn in free money and will effectively pay more again to keep it safe, as global markets continued to reel from the fallout of the Covid-19 outbreak.

European stock markets fell again amid investor scepticism that the spending pledges by governments around the world will shield the eurozone and the US from economic damage carried by Covid-19.

Panic over the Covid-19 fallout gripped global stock markets yesterday in the worst sell-off since the financial crisis a decade ago, while oil prices slumped in their worst drop since the Gulf War almost 30 years ago.

Penneys owner ABF said supplies could be hit should the reopening of Chinese factories be delayed because the retailer sources much of its clothing lines from Asia.

Shares in Kerry Group fell by close to 3% after it lost out in the race to buy the nutrition division of American conglomerate DuPont, in what would have been a potentially transformative deal for the Tralee-based food business.

Stock markets on both sides of the Irish Sea are bracing for a week of high political drama at Westminster, which may decide whether Britain is set to crash out of the EU at the end of October.

A sharp rebound for Irish bank shares capped a week in which global stock markets were haunted by the threat of global recession, sparking a flight by investors from shares to government bonds.

Shares in the big two Irish banks and a handful of property shares played catch-up with the global market slump to post falls, taking stock of the fading hopes of a deal that would avoid Britain crashing out of the EU at the end of October.

Investors in global stocks and Irish shares, in particular, will learn this week whether the growing fears over escalating trade wars will send markets reeling again.

Global shares and the price of oil slumped, as President Donald Trump shocked markets by opening a new front in his world trade wars by setting a tariff demand on Mexico.

Sterling slipped further and Irish shares fell sharply as fears of investors rose that the political turmoil in the UK will lead to Boris Johnson becoming leader, and Britain crashing out of the EU without a deal.

Sterling steadied after initially posting further large losses on UK political fears but shares in Europe and the US were hit as the fallout of the US-China trade war extended to Chinese champion Huawei and the world’s chip makers for mobile phones.

The 2018 financial reporting season has now passed and most companies on the Irish Stock Exchange have delivered results that were largely in line with expectations.

European stock markets fell and the euro slid against the dollar. It traded little changed at 85.74 pence against sterling.

Sterling fell against the euro and the dollar yesterday as a key survey suggested the UK’s services industries, which includes its giant finance industry, is coming close to stagnating because of the uncertainty of Brexit.

Irish shares tapped a surprise early new year buying wave that sent the Iseq Overall index climbing 3%, reflecting huge gains for Bank of Ireland and housebuilder Glenveagh at the end of a week marked by global stock market tremors.

A TD has called for a 'dramatic narrowing' of the pay gap between bosses and workers and has proposed a number of measures to fight the growing inequality in Irish society.

What a difference a few months can make and what damage a Twitter-happy finger can do.

Irish paper and packaging giant Smurfit Kappa has rejected a raised takeover offer from US rival International Paper, but a sharp 3.4% fall in Smurfit shares may well signal the hostile suitor is so far winning the €8.9bn bidding war.

Glanbia shares slid 7.5%, stripping around €300m from its market value, as investors showed disappointment at the company’s 2018 earnings outlook, despite it unveiling 2017 figures which showed an eighth successive year of strong growth.

European shares rose, lifted by strong results and German economic data, while US trading was dominated by volatility caused by the latest US inflation numbers.

Most Irish households would probably struggle to identify any direct link between their daily lives and a slump in hugely-overvalued American company stock prices, writes Eamon Quinn.

Drinks maker C&C said its move into the pub business in England and Wales can boost its signature cider brand.

The Trump administration needs to deliver on a number of its campaign promises if the rally in the US stockmarkets — which, in turn, can boost European markets, including the Iseq — is to last. This month marks the 10th anniversary of the beginning of the global financial crisis that set off the Great Recession.

Analysts are pouring over market charts of the Cuban missile crisis in the early 1960s and the war of words over North Korea to assess whether investors’ fright will calm any time soon.

C&C chief executive Stephen Glancey has insisted that the cider and lager maker remains committed to its struggling US business despite a further writedown in its value pulling the group into the red last year.

The “relief rally” by markets on the outcome of the first round of the French presidential elections makes it likely that the Government will get its planned sale of AIB shares away by early summer, a leading analyst has said.

Irish investors have been warned off from increasing their bets on overvalued Irish and global shares because the risks posed by President Donald Trump cutting US corporation taxes and by Brexit-driven choppy currency markets for Ireland’s economy are just too great.

Christmas spending at UK supermarkets and weak sterling helped boost London’s Ftse 100 blue-chip index, which hit fresh record highs yesterday, as other European shares also ended slightly in positive territory.

It must make you feel a slight pang if you live in Iran knowing your 100,000 riyal note wouldn’t buy you a burger in Nenagh, writes Colm O’Regan

Stock markets investors should avoid Europe-wide shares for the time being, Merion Capital has warned, though a very small handful of Irish companies, including Fyffes and Irish Residential Properties REIT, may offer some shelter from further storms ahead.

The pressure has resumed on Irish firms that depend on selling their goods and services to Britain.

Almost €10bn was wiped off the combined value of Irish shares yesterday, as the Irish Stock Exchange bore the brunt of investors continuing to react negatively to Britain’s decision to leave the EU.

Irish taxpayers were among the biggest losers yesterday as the fallout from the UK’s decision to leave the EU upended global markets and wiped more than €260m off the value of the State’s shareholding in Irish banks.

Gender quotas are needed to “move the needle” and increase the number of women sitting on the boards of Irish companies, according to the head of PayPal in Ireland.

In a world economy that is struggling to deliver 2% GDP growth in 2016, Irish equities should attract renewed interest as the Irish economy looks set to increase by around 5% in real terms as ‘Brexit’ concerns ease.

The debate over whether the UK will exit the EU has switched dramatically to the potential gains for some Irish shareholders and most Irish exporters should the so-called ‘Bremain’ side win the looming UK vote on EU membership on June 23.

The London market closed higher with traders cheered by strong US economic data, soothing a hangover caused by Thursday’s stark warning by the Bank of England governor about the cost of a Brexit vote.

Banks will face extensive scrutiny of their mortgage loan books and have to justify more clearly the way they deal with distressed borrowers in arrears in the Programme of Government struck between Fine Gael and the Independent Alliance.

The London market edged back into positive territory as a rise in the price of oil eased the pressure on top-flight stocks.