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 Menswear retailer Tailored Brands Inc. , the parent company of Men's Wearhouse and Jos. A. Banks, filed for Chapter 11 bankruptcy protection Sunday, the Wall Street Journal reported. The clothier has been hit hard by pandemic-related store shutdowns, reporting last month that first-quarter sales were down 60%. Since July 1, Tailored Brands has missed missed interest payments on bonds, slashed its corporate workforce by 20%, announced plans to close up to 500 stores and was notified that it will be delisted by the New York Stock Exchange. The company operated more than 1,400 stores in the U.S. and Canada as of Feb. 1, and employed more than 1,900 people. Earlier in the day, fellow troubled retailer Lord & Taylor also filed for bankruptcy.
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 Australia's second-biggest city faces strict lockdown measures for the next six weeks as the state of Victoria saw another record spike in coronavirus cases — 671 in a single day.
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Tensions with China seeped further into the market Friday as the U.S.-China trade deal returned to the picture, and deep losses for chipmaker Intel (INTC, -16.2%) didn't help, either.
In a Thursday coronavirus briefing, President Donald Trump said the pact "means less to me now than it did when I made it" as he continues to lay blame on China for the COVID-19 breakout. That, as well as China's demand that the U.S. close its Chengdu consulate - a retaliatory measure for a similar American order earlier this week - helped crack investor confidence.
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Senate Republicans' fiscal stimulus proposal was delayed again, too, with a reveal now expected on Monday.
Intel was a particular drag following its Thursday evening earnings report, when it admitted that its next-generation CPUs will be released six months later than expected.
"We believe the company's delay of its 7nm roadmap will foster fears of competitive pressures persisting, if not accelerating over the next 2-3 years and thereby cap the valuation on its shares," wrote Deutsche Bank analyst Ross Seymore, who downgraded the stock from Buy to Hold. "While INTC has successfully proven that it can generate solid revenue and earnings growth despite being behind on Moore's Law (a trend that likely persists into 2021), we believe fears of the announced 6-month 7nm delay extending to a 10nm-esque multi-year issue that eventually does impact fundamentals will likely keep INTC's shares range-bound until the company definitively proves otherwise."
The uncertainty was a boon for gold, which continued its breako
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