economic downturn

Federal Reserve Chair Jerome Powell says surge in virus cases threatens U.S. economy

By Christopher Rugaber, Associated Press

Powell said the threat also means Congress and the White House should provide more stimulus spending to support the unemployed, states and cities, and small businesses, and to keep the economy afloat.

Federal Reserve keeps interest rate at record low

By Martin Crutsinger, Associated Press

The Fed announced no new actions after its latest policy meeting but left the door open to provide further assistance in the coming months.

S&P 500 sinks 3.5 percent as surging virus cases threaten shutdowns

By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press

The Dow Jones Industrial Average dropped 943 points Wednesday as surging coronavirus cases in the U.S. and Europe threaten more business shutdowns and pain for the economy.

U.S. stocks tumble toward worst day in a month amid virus woes

By Stan Choe, Damian J. Troise, Alex Veiga, Associated Press

Stocks of companies that need the virus to abate and the economy to return to normal had some of the sharpest losses on Wall Street. Stocks also weakened across much of Europe and Asia.

IMF warns global economy could be permanently scarred

By Martin Crutsinger, Associated Press

The global economy's recovery from the pandemic recession is tentative and uneven and "marked by significant uncertainty" as confirmed coronavirus cases spread in many countries, global finance ministers warned Thursday.

Trump halts COVID-19 relief negotiations until after election

By Aamer Madhani, Andrew Taylor, Associated Press

President Donald Trump says he has instructed aides to stop negotiating on a coronavirus aid plan until after the election, roiling stock markets hoping for an economic boost for hard-hit industries such as the airlines.

Service sector grows for the 4th consecutive month

By Martin Crutsinger, Associated Press

The index had fallen sharply for three months starting in March as shutdowns aimed at containing the virus closed many businesses and put millions of Americans out of work. But starting in June, the index has resumed rising.

WATCH: Health, finance experts testify on the economic impact of COVID-19 in the U.S.

By Associated Press

Federal Reserve Chairman Jerome Powell and Treasury Secretary Steven Mnuchin expressed cautious optimism Tuesday that the U.S. economy is rebounding from the pandemic-induced recession with federal support.

Wildfires intensify economic pain in the West

By Paul Wiseman, Associated Press

Wildfires are destroying property, running up huge losses for property insurers and putting a strain on economic activity along the West Coast that could linger for a year or more.

Falling consumer prices is a flashing warning light for Europe’s economy

By David McHugh, Associated Press

Consumer prices have fallen in Europe. While that might be welcome for shoppers in the short term, it is a sign that businesses are struggling amid the pandemic.