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NewsWatch: Investors should prepare for a U.S. ‘economic depression,’ warns Kyle Bass, but China’s fate could be even worse

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MARKETWATCH FRONT PAGE

Kyle Bass made his name betting against the U.S. housing market more than a decade ago, and now he is predicting an economic contraction that could be more than three times as severe as that suffered during the Great Financial Crisis. See full story.

Cisco stock heads higher as profit continues to flow amid pandemic despite revenue slowdown

Cisco Systems Inc. showed stronger resilience in its earnings than expected Wednesday and shares went higher in after-hours trading, but the tech giant’s sales are declining amid the COVID-19 pandemic. See full story.

‘Darkest winter in modern history’ coming without stronger coronavirus response, Rick Bright to testify

Rick Bright, the ousted director of a key government health office, will testify Thursday that the U.S. faces its “darkest winter in modern history” without a stronger response to the coronavirus. See full story.

If you could buy only one stock ETF, this would be it — and it doesn’t track the S&P 500

This internet ETF has outperformed not only the S&P 500 and Dow Jones Industrial Average, but also the Nasdaq. See full story.

Trump calls out ‘so-called rich guys’ speaking negatively about the stock market, alleges they are ‘betting big against it,’ as Dow falls 500 points

President Donald Trump took to Twitter on Wednesday to express his displeasure with prominent investors delivering grim forecasts about the outlook for the economy and the stock market. See full story.

MARKETWATCH PERSONAL FINANCE

As some warn about the possibility of airline bankruptcies, consumers could face the loss of those canceled tickets. See full story.