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