U.S. Is Nowhere Close to Reopening the Economy, Experts Say
How long can we keep this up? It is still very early in the U.S. effort to snuff a lethal pandemic by shutting down much of the economy. But there Continue Reading
Waiting for the Next Historic Number: Global Economy Week Ahead
As the true economic impact of the coronavirus pandemic becomes clear, economists seeing unprecedented data releases on an almost daily basis are gearing up for even worse to come. In Continue Reading
World Economy Outlook: Risk From Global Disinflation
The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades. With many national economies all Continue Reading
State Shutdowns Have Taken at Least a Quarter of U.S. Economy Offline
At least one-quarter of the U.S. economy has suddenly gone idle amid the coronavirus pandemic, an analysis conducted for The Wall Street Journal shows, an unprecedented shutdown of commerce that Continue Reading
Global economy set for sharpest reversal since Great Depression
The coronavirus pandemic and lockdowns imposed by governments on both sides of the Atlantic have pushed the global economy into the sharpest downturn since the Great Depression, data released on Friday Continue Reading
A bleak US jobs report likely portends even deeper losses
A grim snapshot of the U.S. job market’s sudden collapse emerged Friday with a report that employers shed hundreds of thousands of jobs last month because of the viral outbreak Continue Reading
US Jobs Report Mar. 2020: Payrolls Fall 701,000 on Coronavirus
U.S. employment plummeted last month by a degree not seen since the last recession, in just an early glimpse of the devastation from the coronavirus pandemic. Payrolls fell 701,000 from the Continue Reading
Has Russia Reached Its Limit In The Oil Price War?
When Vladimir Putin was given a dire forecast of the economy under the cloud of a crippling coronavirus pandemic and a sharp fall in global demand for petroleum, the Russian Continue Reading
Euro zone business activity collapses in March as coronavirus spreads: PMI
Euro zone business activity collapsed last month as attempts to contain the coronavirus pandemic pushed governments across the continent to shut down vast swathes of their economies, from shops to Continue Reading
Economies won’t be able to recover after shutdowns
Citizens seem to be clamoring for shutdowns to prevent the spread of COVID-19. There is one major difficulty, however. Once an economy has been shut down, it is extremely difficult Continue Reading
Wall Street’s major indexes slammed as virus anxiety grows
The key S&P 500 index was down more than 4% on Wednesday after a dire warning on the U.S. death toll from the coronavirus and heightened nerves over the upcoming Continue Reading
Why the Global Recession Could Last a Long Time
The world is almost certainly ensnared in a devastating recession delivered by the coronavirus pandemic. Now, fears are growing that the downturn could be far more punishing and long lasting Continue Reading
Why Asia’s New Wave of Virus Cases Should Worry the World
In China, international flights have been cut back so severely that Chinese students abroad wonder when they will be able to get home. In Singapore, recently returned citizens must share Continue Reading
S&P 500 heads for biggest ever first-quarter plunge
Wall Street’s major indexes fell on Tuesday and the S&P 500 was headed for a record first-quarter decline on growing evidence of large-scale economic damage from the coronavirus pandemic. In Continue Reading
Factories Cut Output, Jobs as Coronavirus Lockdown Bites
Factories across Asia and Europe cut output and jobs at the fastest pace since the global financial crisis, a sign the global economy has entered a deep freeze as governments Continue Reading
World Bank sees outbreak taking a big toll on Asia’s economy
The World Bank is estimating that the cornavirus outbreak will cause economic growth to slow significantly this year in China and other East Asian-Pacific countries, throwing millions into poverty. Under Continue Reading
U.S. Stock Futures Falter as Oil Trades at 18-Year Low
U.S. stock futures wobbled and oil dropped sharply Monday as investors grappled with the mounting economic toll after U.S. government officials signaled that measures to contain the coronavirus pandemic may Continue Reading
European shares retreat as coronavirus fears intensify
European stock markets headed lower on Monday, as fears about the economic hit from the coronavirus pandemic intensified with several nations extending near-total lockdowns. The pan-European STOXX 600 index was Continue Reading
IMF head says global economy now in recession
The head of the International Monetary Fund said Friday it is clear that the global economy has now entered a recession that could be as bad or worse than the Continue Reading
S&P Cuts Oil Nations Ratings
Several oil-producing nations woke up to lower credit ratings from S&P amid the latest oil price rout, Reuters reports, listing Oman, Nigeria, Mexico, Angola, and Ecuador among those downgraded and Continue Reading
Global Economic Fallout Grows as Coronavirus Cases Pass 600,000
Concerns about the financial toll of the coronavirus pandemic continued to grow as the number of infections globally topped 600,000 Saturday, with the International Monetary Fund warning of an economic Continue Reading
Dollar edges up but headed for biggest weekly fall since 2016
The dollar edged higher on Friday but remained on track for its biggest weekly decline in four years, as trillions of dollars worth of stimulus efforts by governments and central Continue Reading
U.S. consumer sentiment near three-and-a-half year low, spending sluggish
U.S. consumer sentiment dropped to near a 3-1/2-year low in March as the coronavirus epidemic upended life for Americans, and consumer spending was sluggish in February, strengthening economists’ expectations of Continue Reading
U.S. Car Sales Decimated By Coronavirus Crisis
If any company is bracing for the shock of falling U.S. auto sales, it’s got to be Group 1 Automotive. The company owns and operates 186 auto dealerships along with Continue Reading
Ford aiming to restart North American production beginning April 6
Ford is aiming to restart production at some of its North American plants as early as April 6, the company said Thursday. Ford said it is planning to resume production Continue Reading
G20 leaders to inject $5 trillion into global economy to fight coronavirus
Leaders of the Group of 20 major economies pledged on Thursday to inject $5 trillion in fiscal spending into the global economy to blunt the economic impact of the coronavirus Continue Reading
World Trade Rocked by Virus Sees Worst Collapse in a Generation
The global economy’s most abrupt and consequential shock in at least a generation is unfolding at ports and other hubs of international commerce as the U.S. and Europe struggle to Continue Reading
U.S. Equipment Orders Fell More Than Forecast in February
U.S. factories received fewer orders for business equipment than forecast in February, just before the coronavirus-related demand shock that will likely lead a massive pullback in corporate investment. Core capital goods Continue Reading
G7 ministers urge oil-producing nations to help stabilize world economy, amid price war
Finance officials from the G7 major industrial nations on Tuesday called on “oil-producing countries to support international efforts to promote global economic stability,” as the collapse in crude prices threatens Continue Reading
Surveys show coronavirus pandemic savaging global economy
Evidence of the devastation wreaked on the global economy by the coronavirus pandemic mounted on Tuesday as activity surveys for March from Australia and Japan showed record falls, with surveys Continue Reading
U.S. Recession Risks and Depression Fears: Coronavirus News
The U.S. is entering a recession. The ultimate fear is that could turn into a protracted malaise that has some flavor of a depression. That’s far from the base case, with Continue Reading
Virus News: Fed’s Bullard Says Jobless Rate May Soar to 30%
Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an Continue Reading
U.S. OIL PRICE COLLAPSE = U.S. ECONOMIC COLLAPSE
The oil price collapse is a bad omen for much worse things to follow. The global contagion is impacting the U.S. economy and the domestic oil industry far greater than Continue Reading
Goldman Sachs says GDP could fall 24 percent in second quarter
The U.S. economy may have entered a recession and Americans could see the economy shrink by an annualized 6 percent in the first quarter and an astonishing 24 percent in Continue Reading
Dow drops more than 900 points, ending worst week since 2008
Stocks sank to their worst week since the financial crisis of 2008 as traders went into full retreat out of fear that the coronavirus will plunge the U.S. and other Continue Reading
U.S. economy deteriorating faster than anticipated as 80 million Americans are forced to stay at home
The U.S. economy is deteriorating more quickly than was expected just days ago as extraordinary measures designed to curb the coronavirus keep 84 million Americans penned in their homes and Continue Reading
US credit card lenders reel as borrowers get laid off
Fears that the coronavirus will lead to widespread unemployment and a spike in consumer defaults have wiped more than two-thirds from the value of US credit card lenders and left executives Continue Reading
Trump Administration Asks States to Keep Quiet About Jobless Figures
The Trump administration asked states to abstain from releasing unemployment-claims figures prior to the publication of a national compilation of weekly U.S. jobless claims, according to a state labor department Continue Reading
Markets tumble as scale of stimulus programs numbs investors
Global equities tumbled anew on Wednesday, with bond and gold prices also falling in an unusual tandem, as markets grappled with the scale of government programs aimed at softening the Continue Reading
Detroit automakers shutter U.S. plants in move to stop coronavirus spread
The Detroit Three automakers will shut down their U.S. plants to stop the spread of coronavirus, bowing to pressure from the union representing about 150,000 hourly workers at those facilities, Continue Reading
Call It a Layoff, a Furlough or a Cut Shift: Americans are Losing Work
Employers are cutting shifts, suspending work and starting to lay off workers as the new coronavirus devastates business across the country. Companies from restaurant operators to wedding caterers have started Continue Reading
NYSE to Shut Trading Floors Monday After Two Are Infected
The New York Stock Exchange will temporarily shut its trading floors starting Monday and move to fully electronic trading after an employee and a person who worked on the floor Continue Reading
Harried Traders Gird for a Frantic Friday
The S&P 500 has risen or fallen at least 4% in eight straight sessions, the longest streak in history, according to Dow Jones Market Data. The Cboe Volatility Index, the Continue Reading
Trump presses for $1 trillion stimulus as U.S. coronavirus deaths cross 100
The Trump administration pressed on Tuesday for enactment of a $1 trillion stimulus package, possibly to include $1,000 direct payments to individual Americans, to blunt the economic pain from a Continue Reading
Goldman Sees China’s Economy Slumping 9% in First Quarter
China’s economy is set to post a 9% plunge in the first quarter from a year earlier, according to the latest forecast from Goldman Sachs Group Inc. A day after retail Continue Reading
Wall Street’s Big Coronavirus Mistake
Investment professionals on Wall Street spend their days reading financial reports and looking at numbers flash on screens. These numbers record the moment-to-moment changes in the collective wisdom of markets Continue Reading
‘D’ word rears head as coronavirus-hit markets brace for recession
The coronavirus shockwaves rippling through U.S. stocks are forcing investors to contemplate outcomes direr than a recession, including several quarters of declining economic activity, a credit crisis or even a Continue Reading
America’s Economy Begins to Shut Down as Pandemic Measures Take Hold
In some places, public officials and private business owners moved with stunning speed. In others, paralyzing hesitancy, defiant bravado or blithe disregard dominated. But by Monday, it was clear everywhere Continue Reading
Stocks dive as rescue bids by Fed, peers fail to calm panicky markets
Stock markets were routed and the dollar stumbled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to Continue Reading
Global recession already here, say top economists
The world economy has fallen into recession, suffering from a “wicked cocktail” of coronavirus and the dramatic action to limit its spread, according to four former IMF chief economists. As the Continue Reading