On Saturday, Billionaire investor Warren Buffett announced that Berkshire Hathaway had sold all of its shares of United Airlines, Southwest Airlines, Delta Air Lines and American Airlines amid the global COVID19 pandemic.
The firm’s combined stake in the four US airlines was worth billions of dollars having held a stake of between 8% and 11% in the carriers.
Buffett further informedBerkshire shareholders that the company hasn’t made any big investments recently because “we don’t see anything that attractive to do.”
Meanwhile, prices of oil declined on Monday’s trading session after President Donald Trump threatened to impose new tariffs on China over the COVID10 Outbreak. Worsening relations between the two countries got investors worried as this risks putting the trade deal between them in jeopardy.
West Texas Intermediate (WTI) for June delivery fell 5.30% to $18.72 per barrel at 2:54 am Eastern Time. The WTI futures are up by more than 40% over the past week even as demand remains at record lows.
