economy

Unemployment claims shot to the highest level in years last week as the coronavirus pandemic continued to spread across the country, forcing businesses to shut down and lay off thousands of workers. The Labor Department reported 281,000 new claims for unemployment insurance for the weeks of March 8, a spike of 70,000 from the previous week …

The Chinese virus pandemic may have already thrust the economy into a recession by bringing some of its most vital parts to a screeching halt, experts say. The crisis has caused a swift slowdown in economic activity across the US and the world. Restaurants and bars have scaled back service or closed altogether. Airlines have …

Ford, General Motors and Fiat Chrysler are planning to close all their U.S. factories due to the Wuhan Coronavirus pandemic

The U.S. imposed fresh sanctions on Iran on Wednesday and called on the state terror sponsor to release detained Americans 

The economic stimulus package to fight damage from the Chinese coronavirus pandemic under consideration by the White House includes a proposal to send two $1,000 checks to certain Americans

Treasury Secretary Steve Mnuchin on Tuesday warned Republican senators that the nation could see 20 percent unemployment

China’s GDP is headed for a 9 percent drop in first-quarter year-over-year growth as the coronavirus, which originated in Wuhan and spread across China before spreading around the globe, takes a toll on the country’s economy. “The recovery in Chinese economic activity is likely to be constrained,” read the latest forecast report from economists at …

The Trump administration will ask Congress for about $850 billion for a stimulus package to offset the economic damage of the coronavirus outbreak, administration officials said Tuesday. Around $50 billion of the stimulus package would be devoted to boosting the flagging airline industry, which has suffered particularly since the coronavirus began spreading across the globe. Treasury Secretary Steven …

The Dow plunged nearly 3,000 points on Monday — or nearly 13 percent,  its biggest drop since the “Black Monday” crash of 1987 — after the Federal Reserve’s surprise move to slash interest rates to near zero stoked fears about the damage the coronavirus is doing to the economy. Stocks accelerated their downward move in …

Traders on the floor of the New York Stock Exchange shortly after the opening bell in New York. January 4, 2018. (Lucas Jackson/Reuters) Wall Street took another hit on Monday as the Dow Jones plunged 2,250 points, or 9 percent, while the S&P 500 fell 8 percent and the Nasdaq 6 percent. Trading was halted …