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
Feb 28 Financial pain deepens as nearly 60 countries report virus By Foster Klug, Matt Sedensky, Associated Press Globally, more than 83,000 people have fallen ill with the novel coronavirus. Continue reading
Feb 27 Regulators boost PG&E's wildfire fine to $2.1 billion By Michael Liedtke, Associated Press The increased punishment includes a $200 million payment earmarked for the people who lost family and property in catastrophic wildfires caused by PG&E's outdated electrical grid and negligence during 2017 and 2018. Continue reading
Feb 27 Watch 4:09 Novel coronavirus is hitting the financial markets hard. Here's what we know Economic worries sparked by the global outbreak of novel coronavirus are pushing major stock indexes lower -- down at least 10 percent from recent record highs. More than $2 trillion of value have been wiped out this week, translating to… Continue watching