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Thread: Business news 2020

  1. #51
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    Remember, you can't spell "down" without "D-O-W."

    Dow drops 2,014 points (7.8%), its biggest decline since 2008, as coronavirus fuels market turmoil
    The S&P 500 plunged as much as 8% today, its biggest intraday drop since 2010, before closing 7.6% lower.

    https://markets.businessinsider.com/...0-3-1028978137

  2. #52
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    Today the S&P fell 9.51% and NASDAQ lost 9.43%. The Dow fell by 9.99%, its biggest drop since the so-called "Black Monday" of October 19, 1987, when it fell 22.6%. Museums, sports arenas, concert halls and theme parks are closing, music festivals and trade shows are being canceled, colleges and universities are moving their classes online, millions of Americans have stopped traveling and stopped going out to eat or shop – all because of coronavirus fears. Our economy is suffering and dragging down the stock market. One example: The NBA and NHL have suspended their seasons and shares of Madison Square Garden, home of the Knicks and Rangers, fell 10.23% today.

    Dow's 10% loss is most since 1987 market crash
    Investors continued a massive selloff today.

    https://abcnews.go.com/Business/futu...ry?id=69554569

  3. #53
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    In the United States, there are now 4,314 confirmed cases of the coronavirus and 77 have died. President Trump today admitted the coronavirus "is not under control" and acknowledged the possibility of a recession. He said American life might not return to normal until August. I suspect that is true for the entire world.

    Dow tumbles 2,997 points (12.9%), worst point drop in history
    The S&P finished down nearly 12%; NASDAQ ended down 12.3%.

    https://www.cnn.com/business/live-ne...620/index.html

  4. #54
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    The National Bureau of Economic Research defines a recession as "a significant decline in economic activity spread across the economy, lasting more than two quarters, normally visible in real gross domestic product, real income, employment, industrial production and wholesale-retail sales." There have been 46 depressions in United States history. Make that 47.

    The global coronavirus recession is beginning
    CNN Business, Mar 16 2020 3:23 PM

    As restaurants, shops, airlines and factories shut down around the world, from New York to Paris and Madrid, economists are warning that a global recession is no longer a looming threat. It's here. Dire economic data released by China on Monday showed that the country was pummeled by the coronavirus outbreak in January and February. The world's second biggest economy looks unlikely to recover any time soon. Now, with governments and central banks in Europe and North America pursuing drastic measures to try to control the pandemic, Asia still on high alert and financial markets in meltdown, a growing number of experts say a global contraction is beginning.

    https://www.cnn.com/2020/03/16/econo...rus/index.html

  5. #55
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    Schools are closed. Bars and restaurants are closed. Department stores are closed. Gyms and fitness centers are closed. Sports arenas are closed. Theaters and playhouses are closed. Museums, libraries and concert halls are closed. Welcome to the Great Depression of 2020.

    Unemployment could hit 20%, Steven Mnuchin says
    Treasury Secretary tells Senators he's worried coronavirus
    fallout could be worse than the 2008 financial crisis.

    https://www.cnn.com/world/live-news/...17-20-intl-hnk

  6. #56
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    King Donald the First, who has a galaxy-sized ego, takes sole credit when the stock market is doing well but never assumes any blame or responsibility when the market is doing poorly – and right now it's doing poorly. Very poorly.

    The entire Trump stock rally is gone: Dow erases all its gains since Donald Trump took office

    https://www.cnn.com/2020/03/18/inves...ins/index.html

  7. #57
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    Bars, restaurants, gyms, fitness centers, schools, churches, museums, libraries, theaters, playhouses, sports arenas, concert halls, casinos, department stores and many other businesses have closed because of coronavirus fears. We can now add banks to the list.

    JPMorgan Chase is closing 20% of its branches and reducing staffing amid the coronavirus pandemic but it will pay employees asked to stay home

    https://www.businessinsider.com/coro...taffing-2020-3

  8. #58
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    Goldman Sachs economist Jan Hatzius says "a dramatic slowdown is already underway." Gee, ya think?

    Goldman Sachs says US GDP will shrink 24% next quarter amid the coronavirus pandemic – which would be 2½ times bigger than any decline in history

    https://markets.businessinsider.com/...0-3-1029018308

  9. #59
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    Because of the coronavirus pandemic, there really isn't much reason to have a phone right now. Travel is restricted, schools are closed, theaters are closed, non-essential businesses are closed, there are no sporting events, and about all you can do with a phone is call your friends and say, "I'm staying home today. What are you doing? Oh, you're staying home too?" The COVID-19 death toll in the United States is now 1,032.

    Global smartphone sales fell 14% in February as coronavirus spread

    https://www.reuters.com/article/us-h...-idUSKBN21D0FA

  10. #60
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    Businesses nationwide have been hurt by the coronavirus pandemic. Unemployment claims are at an all-time high. Amazon today fired a New York City warehouse worker who led a strike of more than 60 employees demanding safer working conditions. Airbnb is allocating $250 million to help offset the losses of hosts whose guests have canceled bookings because of the coronavirus pandemic. And then there's Macy's.

    Macy's to furlough most of its 130,000 employees as stores stay shut

    https://www.aol.com/article/finance/...shut/23965719/

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