Nearly 3.3 million Americans applied for unemployment benefits last week, according to government figures released Thursday — almost five times the record set in 1982.
Nation and World
President Donald Trump said the economy may be headed for a recession and asked Americans to avoid gatherings of more than 10 people.
Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel.
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.
Tech giant Apple is closing its stores outside of China for two weeks and will only sell online as part of efforts to fight the global viral pandemic.
The Fed announced Thursday that it’s injecting $500 billion into short-term lending markets to address disruptions in the Treasury market.
The staggering losses immediately raised fears that a recession might be on the way in the U.S. and that the record-breaking 11-year bull market on Wall Street may be coming to an abrupt end.
Asian stock markets plunged Monday after oil prices nosedived on worries the global economy, weakened by a virus outbreak, might be awash in too much crude.
A staple of the Costco shopping experience — free food samples — has been temporarily suspended by retailer because of the spread of the coronavirus, an employee said Friday.
The surprise move gave stocks a strong, brief boost, but it took just 15 minutes for the gains to evaporate. The cut helped raise some confidence, but it did not wipe out the uncertainty dominating markets about how much economic damage the virus will ultimately do.
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