EU Countries Agree to $550 Billion in Economic Support
2020-04-10 14:32:55 UTC
BRUSSELS (Reuters) - European Union finance ministers agreed on Thursday on half-a-trillion euros ($550-Billion) worth of support for their coronavirus-battered economies but left open the question of how to finance recovery in the bloc headed for a steep recession.
The agreement was reached a...
Global Economy Heading Into Deepest Recession Since 1929
2020-04-09 21:43:41 UTC
WASHINGTON (AP) — The coronavirus pandemic will push the global economy into the deepest recession since the Great Depression, with the world’s poorest countries suffering the most, the head of the International Monetary Fund said Thursday.
“We anticipate the worst economic fallout since the G...
California Buys 200 Million N95 Masks on a Monthly Basis
2020-04-08 17:43:48 UTC
Can California emerge from coronavirus pandemic stronger? Heroic Leaders and big hearted people offer hope.
Dr. Robert Wachter, professor and chair of the Department of Medicine at University of California, San Francisco, said "The most important was that leaders of all types - whether they we...
Trump Removes $2 Trillion Coronavirus Spending Watchdog
2020-04-07 22:59:07 UTC
WASHINGTON (AP) — President Donald Trump has removed the inspector general tapped to chair a special oversight board for the $2.2 trillion economic relief package on the coronavirus, the latest in a series of steps Trump has taken to confront government watchdogs tasked with oversight of the exec...
Economist: “The U.S. Labor Market Is In Free-Fall”
2020-04-02 05:32:09 UTC
<p>WASHINGTON (Reuters) - The number of Americans filing claims for unemployment benefits likely shot to a record high for a second week in a row as more jurisdictions enforced stay-at-home measures to curb the coronavirus pandemic, which economists say has pushed the economy into recession. ...
Markets Fall Sharply as Coronavirus Outbreak Worsens
2020-04-01 21:41:27 UTC
<p>NEW YORK (AP) — Wall Street and markets around the world fell sharply Wednesday as the economic and physical toll caused by the coronavirus outbreak mounts — and as experts say they still can’t predict when it will end.</p><p>The S&P 500 lost 4.4% after the White House sa...
Brexit: EU, UK Negotiate Future Relationship
2020-03-30 19:12:36 UTC
LONDON (Reuters) - British and EU officials are holding informal talks on the future relationship, a spokesman for Prime Minister Boris Johnson said on Monday, repeating that Britain is still working towards the end of this year to end a transition period
“The transition period ends on the 31...
U.S. Auto Sales Plummet 80 Percent
2020-03-26 04:24:17 UTC
(Reuters) - Vehicle sales in U.S. states that implemented lockdown orders to curb the spread of the coronavirus will drop 80% or more, analysts said on Wednesday.
Auto retail sales through the week of March 22 declined 22% nationwide on a yearly basis and as much as 40% in some cities on the ...
US Announces $2 Trillion Coronavirus Rescue Bill
2020-03-25 06:49:55 UTC
WASHINGTON (AP) — The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure i...
Asian Markets Opened Sharply Higher
2020-03-25 03:14:56 UTC
NEW YORK (AP) — Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus.
Japan’s Nikkei 225 inde...
U.S. Coronavirus Cases Skyrocket to 35,000
2020-03-23 06:56:01 UTC
Global-Gathering — The total number of known U.S. cases has climbed past 35,000 in a surge that health officials attributed in large part to an increase in diagnostic testing. More than 460 Americans have died.
More than 340,408 people have been infected across the world and 14,573 have died, ...
The Latest Developments in Coronavirus Outbreak
2020-03-22 18:54:16 UTC
(Reuters) - As coronavirus cases ballooned in Europe, several countries imposed or planned new restrictions to try to curb the spread. Britain told panic-buyers to calm down. California and three other U.S. states directed tens of millions of people to stay at home.
Dow Ends Week With a 17.3% Loss
2020-03-21 00:53:35 UTC
<p>Wall Street ended the week the same way it began: in full retreat from the coronavirus.</p><p>Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of th...
Italy Passes China in Coronavirus Deaths
2020-03-19 18:39:28 UTC
ROME (AP) — The death toll in Italy from the coronavirus overtook China’s on Thursday, and infections in the United States climbed past 10,000, in a stark illustration of how the crisis has pivoted toward the West.
Italy, with a population of 60 million, recorded at least 3,405 deaths, or roug...
Dow Erases All Its Gains Since Trump’s Inauguration
2020-03-18 23:34:43 UTC
NEW YORK (AP) — Stocks tumbled more than 5% on Wall Street Wednesday, and the Dow erased virtually all its gains since President Donald Trump’s 2017 inauguration. Even prices for investments seen as safe during downturns fell as the coronavirus outbreak chokes the economy and investors rush to ra...
U.S. Seeks $850B Economic Stimulus Amid Coronavirus Crisis
2020-03-17 15:37:45 UTC
<p>WASHINGTON (AP) — The White House was asking Congress on Tuesday to approve a sweeping emergency stimulus package to help businesses and taxpayers cope with the economic fallout of the coronavirus pandemic. It’s the most far-reaching economic rescue package since the Great Recessio...
Global Stocks Fall Sharply as Virus Cases Spread Around the World
2020-03-16 20:33:23 UTC
NEW YORK (AP) — Stocks fell sharply around the world Monday as the coronavirus forced huge swaths of the economy to the edge of a standstill, from parked airplanes to the nearly empty restaurant around the corner.
The Dow industrials took a 2,999-point nosedive on Monday as fears deepen that ...
Global Shares Plunge: Worst Day Since '87
2020-03-13 02:06:33 UTC
<p>NEW YORK (AP) — Shares have plunged in Asia, with Japan’s benchmark sinking 10% after Wall Street suffered its biggest drop since the Black Monday crash of 1987. </p><p>Markets worldwide have retreated as fears of economic fallout from the coronavirus crisis deepen and the mel...
Bear Market: Dow dives more than 1,400 points
2020-03-11 20:19:29 UTC
<p>NEW YORK (AP) — Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. The Dow has now fallen 20% from its recent high, a...
Stocks Rise in Turbulent Trading a Day After Selloff
2020-03-10 19:47:33 UTC
NEW YORK (AP) — Wall Street endured another day of dizzying trading Tuesday, whipping up and down with hopes that the U.S. and other governments will cushion the economy from the pain of the coronavirus.
The S&P 500 surged as much as 3.7% in the morning and recouped nearly half its historic dr...
Black Monday: Shock To Oil Also Rattled Stock Markets
2020-03-09 14:09:42 UTC
NEW YORK (AP) — Fear gripped financial markets around the world Monday as stock prices and bond yields plunge on worries about the effects of a new coronavirus.
The most violent drops came from the oil markets, where prices cratered more than 20%. But moves in stocks and bond yields were near...
Coronavirus Fuels Dramatic Fall in Oil Price
2020-03-09 01:49:08 UTC
<p>NEW YORK (AP) — Oil prices are plunging as a dispute among producers could lead a global economy weakened by COVID-19 to be awash in an oversupply of crude.</p><p>Brent crude, the international standard, lost $9.50, or 20.1%, to $35.77 per barrel, as of 7:58 p.m. Eastern time on Sunday a...
Nothing Can Pull Markets Out From Undertow
2020-03-06 20:41:47 UTC
<p>NEW YORK (AP) — Stocks kept falling Friday, and bond yields took more breathtaking drops as a brutal, dizzying couple weeks of trading showed no sign of letting up. </p><p>Even a better-than-expected <a href="https://apnews.com/1d187742ff0d4a44bf235fd00c665fb7">report on U.S. jobs</...
Bernie Sanders Wins Big in California Primary
2020-03-04 05:35:07 UTC
WASHINGTON (AP) — A resurgent Joe Biden scored sweeping victories across the country with the backing of a diverse coalition and progressive rival Bernie Sanders seized Super Tuesday’s biggest prize with a win in California as the Democratic Party’s once-crowded presidential field suddenly transf...
Dow Jones Falls Nearly 1,200 Points
2020-02-27 21:12:47 UTC
The Dow Jones Industrial Average sank nearly 1,200 points Thursday, deepening a weeklong global market rout caused by worries that the coronavirus outbreak will wreak havov on the global economy. Bond prices soared again as investors sought safe places to park money, sending the yield on the 10-y...