This is the second major film’s release date to be pushed back. Last week, MGM and Universal announced that the upcoming James Bond film “No Time To Die” will be released in November instead of April.
The coronavirus selloff is asset class-agnostic: everything is getting hammered.
The ‘Everything Bubble’ is bursting,” said Neil MacKinnon, Global Macro Strategist at VTB Capital. “The historically extreme valuations in US equity markets which investors have ignored for so long are coming home to roost.”
Risk aversion has manifested itself in Treasury yields, that are lower than ever before. A “Japanification” of the US government bond market is under way, MacKinnon said. Japan moved to a zero interest rate policy in 1999.
Central banks around the world have loosened monetary policy in the face of the coronavirus crisis, but “the risk is that these policies fail to work in generating sustainable economic growth, as has been the case in Japan,” MacKinnon said.
Luxury goods consignment company TheRealReal (REAL) fell more than 12% as it warned that the coronavirus cut hurt its operations.
As a result of the outbreak, the luxury goods owners that TheRealReal buys from might change their minds about letting the company’s staff into their homes to review items, according to a Wednesday securities filing.
The company said it could also decide to scale back or temporarily halt the service, called a White Glove consultation, to protect its employees.
Most consignors preferred this approach, TheRealReal said, so any disruptions could affect its business. TheRealReal also noted that luxury goods purchases tend to decline in periods of economic uncertainty and that the virus could affect the operations of its retail stores.
The company said March 4 that it had opened a new location in San Francisco. TheRealReal had previously announced a $96.7 million net loss for 2019.
This content was originally published here.