A record-long streak of U.S. job growth ended suddenly in March after nearly a decade as employers slashed hundreds of thousands of jobs because of the viral outbreak that has all but shut down the U.S. economy. The unemployment rate jumped to 4.4% from a 50-year low of 3.5%.
More than 6.6 million Americans applied for unemployment benefits last week – doubling a record high set just one week earlier – a sign that layoffs are accelerating in the midst of the coronavirus.
U.S. stocks joined a worldwide downdraft Wednesday as more signs piled up of the economic and physical pain being caused by the coronavirus outbreak.
Amazon fired a worker who organized a walkout at a New York warehouse to demand greater protection against the new coronavirus, saying the employee himself flouted distancing rules and put others at risk.
Stocks fell Tuesday, closing out Wall Street’s worst quarter since the most harrowing days of the 2008 financial crisis.
U.S. stocks climbed Monday, led by big gains for health care companies announcing developments that could aid in the coronavirus outbreak.
Wall Street closed lower Friday but still notched big gains for the week as investors held out hope that a $2 trillion rescue package will cushion businesses and households from the economic devastation being caused by the coronavirus.
Nearly 3.3 million Americans applied for unemployment benefits last week – more than quadruple the previous record set in 1982 – amid a widespread economic shutdown caused by the coronavirus.
Stocks scored their first back-to-back gains Wednesday since a brutal sell-off began five weeks ago, but much of an early rally faded late in the day as a last-minute dispute threatened to hold up a $2 trillion economic rescue package in Congress.
In an effort to help first responders and health care workers who are on the frontlines with COVID-19, Starbucks is offering free brewed coffee – hot or iced – from now until May 3, according to a Starbucks press release.
The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
In its boldest effort to protect the U.S. economy from the coronavirus, the Federal Reserve says it will buy as much government debt as it deems necessary and will also begin lending to small and large businesses and local governments to help them weather the crisis.
Less than three months ago came the first reports of cases of pneumonia related to a virus first detected in Wuhan, China. The outbreak of the virus that causes COVID-19 has caused unprecedented disruptions that have brought an unparalleled shock to the global economy.
The Bank of England slashed its main interest rate to 0.1%, its lowest-ever level since its founding in 1694, and reactivated its bond-buying program in response to the economic shock of the coronavirus pandemic.
Stocks rallied Tuesday as President Donald Trump promised he’s “going big” with plans to prop up the staggering economy through the coronavirus outbreak.
The U.S. stock market plunged to its worst day in more than three decades as voices from Wall Street to the White House said the coronavirus may be dragging the economy into a recession.
Starbucks says it’s moving to a to-go model for all its stores in the U.S. and Canada for at least two weeks over concern about the new coronavirus.
Stocks are clawing back some of their recent losses Friday morning at the end of a brutal week of selling as the spreading coronavirus heightened fears of a global recession.
The Dow Jones Industrial Average tumbled 7.8% Monday, its steepest drop since the financial crisis of 2008, as mounting fears over the coronavirus combined with a crash in oil prices to send a shudder through world markets.
U.S. stocks fell sharply in early trading Friday and were on track for their worst week since October 2008 as the spreading coronavirus threatens to derail the global economy.