Mar 02 World economy may shrink because of virus, watchdog says By Associated Press The last time world GDP shrank on a quarter-on-quarter basis was at the end of 2008, during the depths of the financial crisis. Continue reading
Mar 01 Virus outbreak batters economies, raises fear of spread By Foster Klug, Associated Press Amid fears about where the next outbreak of a fast-spreading new virus would appear, infections and deaths continued to rise across the globe Sunday, emptying streets of tourists and workers, shaking economies and rewriting the realities of daily life. Continue reading
Feb 29 Joe Coulombe, founder of popular Trader Joe's markets, dies By John Rogers, Associated Press Joe Coulombe envisioned a new generation of young grocery shoppers emerging in the 1960s, one that wanted healthy, tasty, high-quality food they couldn’t find in most supermarkets and couldn’t afford to buy in the few high-end gourmet outlets. Continue reading
Feb 29 Virus' effect on world economy grows after Trump lashes out By Mari Yamaguchi, Associated Press The coronavirus outbreak's impact on the world economy grew more alarming on Saturday, even after President Donald Trump denounced criticism of his response to the threat as a “hoax" cooked up by his political enemies. Continue reading
Feb 28 Watch 8:32 How should the U.S. government respond to novel coronavirus' economic impact? Across the U.S., concerns over novel coronavirus have governments, businesses and individuals putting normal operations on hold. With events and travel canceled and more people staying home, what is the economic impact likely to be, and how should U.S. policy… Continue watching
Feb 28 Stocks sink again amid coronavirus outbreak, heading for the worst week since 2008 By Alex Veiga, Damian J. Troise, Associated Press U.S. stocks sank again on Wall Street Friday, pushing the S&P 500 index down another 2.8% and putting the market on track for its worst week since October 2008. Continue reading
Feb 28 Powell says Fed will 'use our tools' to support economy amid coronavirus concerns By Christopher Rugaber, Associated Press Federal Reserve Chairman Jerome Powell pledged Friday that the Fed will "use our tools" to support the economy, an effort to ease fears and a strong signal of a likely rate cut, perhaps at its next meeting March 17-18. Continue reading
Feb 28 FDA reports drug shortage tied to novel coronavirus outbreak By Matthew Perrone, Associated Press, Linda A. Johnson, Associated PRess The Food and Drug Administration declined to identify the manufacturer or the product. Continue reading
Feb 28 What history can teach us about the latest stock market correction By Stan Choe, Associated Press Corrections can be scary, but they can also be healthy events, eliminating excesses that have built up after extended runs of market optimism. Continue reading
Feb 28 Novel coronavirus fear creates a global run on face masks By Dee-Ann Durbin, Anne D'Innocenzio, Joseph Pisani, Associated Press Many businesses are sold out, while others are limiting how many a customer can buy. Continue reading