Dollar crash is almost inevitable, Asia expert Stephen Roach warns

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The stronger dollar era may be on borrowed time.

Stephen Roach, one of the world’s leading authorities on Asia, is worried a changing global landscape paired with a massive U.S. budget deficit will spark a dollar crash.

“The U.S. economy has been afflicted with some significant macro imbalances for a long time, namely a very low domestic savings rate and a chronic current account deficit,” the former Morgan Stanley Asia chairman told CNBC’s “Trading Nation” on Monday. “The dollar is going to fall very, very sharply.”

His forecast calls for a 35% drop against other major currencies.

“These problems are

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Lennar, Nikola, DocuSign and more

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A “Sold” sign is displayed outside a home under construction at a Lennar Corp. development in Montgomery, Illinois.

Daniel Acker | Bloomberg | Getty Images

Check out the companies making headlines after the bell.

Lennar — Shares of the homebuilder whipsawed and fell 1% in extended trading after Lennar released its second-quarter financial results, which beat estimates. The company reported earnings of $1.65 on revenues of $5.29 billion, whereas analysts polled by Refinitiv had expected earnings of $1.18 on revenues of $5.25 billion. Lennar also reported that new orders are down 10% and the dollar value of those new

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FDA warns hydroxychloroquine may weaken effectiveness of coronavirus drug remdesivir

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A pharmacy tech holds a bottle and a pill of Hydroxychloroquine at Rock Canyon Pharmacy in Provo, Utah, on May 20, 2020.

George Frey | Getty Images

The Food and Drug Administration warned Monday that Covid-19 patients taking anti-malaria drug hydroxychloroquine along with antiviral drug remdesivir may weaken the effectiveness of the latter.

The FDA is revising its fact sheet for health-care providers that accompanies remdesivir to state “that co-administration of remdesivir and chloroquine phosphate or hydroxychloroquine sulfate is not recommended as it may result in reduced antiviral activity of remdesivir.”

A recently completed non-clinical study discovered the potential drug

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Oscars delayed until April 25; film eligibility window extended

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Oscar Statue at the Academy of Motion Picture Arts and Sciences on February 23, 2019 in Beverly Hills, California.

Rodin Eckenroth

The 93rd Academy Awards will take place in April next year.

On Monday, the Academy of Motion Picture Arts and Sciences announced that the annual ceremony would leave its Feb. 28, 2021 date in favor of one in late April, as the coronavirus pandemic has shuttered movie theaters around the world and caused many movie studios to delay film releases.

The Academy Awards will now take place on April 25, 2021.

This is the fourth time the awards ceremony

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