Financial crisis

A man walks past a closed business, Wednesday, April 29, 2020, in Chagrin Falls, Ohio. The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record. (AP Photo/Tony Dejak)
April 30, 2020 - 11:45 am
WASHINGTON (AP) — More than 3.8 million laid-off workers applied for unemployment benefits last week as the U.S. economy slid further into a crisis that is becoming the most devastating since the 1930s. Roughly 30.3 million people have now filed for jobless aid in the six weeks since the...
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A man walks in front of the European Central Bank in Frankfurt, Germany, Wednesday, April 29, 2020. The ECB will have the meeting of the governing council on Thursday. (AP Photo/Michael Probst)
April 30, 2020 - 8:29 am
FRANKFURT, Germany (AP) — The European economy shrank by a record 3.8% in the first quarter as business activity from hotels and restaurants to construction and manufacturing was frozen by shutdowns aimed at preventing the spread of the coronavirus. The drop in the 19-country eurozone was the...
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Workers manufacture face masks at a workshop in Bogota, Colombia, Wednesday, April 29, 2020. Oscar Henao a taxi driver by profession and his partner Adan Fajardo, owner of the small packaging workshop, created the plastic protection mask model they called the "mask of life,” to protect people from the coronavirus pandemic. (AP Photo/Fernando Vergara)
April 29, 2020 - 10:53 pm
Scientists on Wednesday announced the first effective treatment against the coronavirus — an experimental drug that can speed the recovery of COVID-19 patients — in a major medical advance that came as the economic gloom caused by the scourge deepened in the U.S. and Europe. The U.S. government...
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 29, 2020. Asian stock markets gained Wednesday after France and Spain joined governments that plan to ease anti-virus controls and allow businesses to reopen. (AP Photo/Ahn Young-joon)
April 29, 2020 - 2:29 pm
Stocks charged higher around the world Wednesday following an encouraging report on a possible treatment for COVID-19. The optimism helped the S&P 500 vault 2.8% higher in afternoon trading, and it extended a rally that’s brought the U.S. stock market to the brink of its best month in 45 years...
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A Lebanese policeman gestures to firefighters as they extinguish a police car that was set on fire by anti-government protesters, in the northern city of Tripoli, Lebanon, Tuesday, April 28, 2020. Hundreds of angry Lebanese took part Tuesday in the funeral of a young man killed in riots overnight in Tripoli that were triggered by the crash of Lebanon's national currency that sent food prices soaring. (AP Photo/Bilal Hussein)
April 28, 2020 - 5:38 pm
TRIPOLI, Lebanon (AP) — Hundreds of protesters in Lebanon's northern city of Tripoli clashed with troops until late Tuesday night leaving several injured on both sides in some of the most serious riots triggered by an economic crisis spiraling out of control amid a weeks-long virus lockdown. After...
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Olive oil is put on a pizza ready to be home delivered, at the Caputo pizzeria in Naples, Italy, Monday, April 27, 2020. Region Campania allowed cafes and pizzerias to reopen for delivery Monday, after a long precautionary closure due to the coronavirus outbreak. (AP Photo/Andrew Medichini)
April 28, 2020 - 6:40 am
NAPLES, Italy (AP) — Wood is burning again in Naples’ pizza ovens, giving a symbolic and savory boost to Neapolitans after two months of lockdown meant an end to their most iconic and favorite food. Pizzerias reopened Monday night in the birthplace of pizza, albeit under restrictions and for home...
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A currency trader stretches at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 27, 2020. Asian stock markets have gained after Japan's central bank promised to buy more government bonds to support financial markets as investors look to central bankers to shore up the struggling global economy. (AP Photo/Ahn Young-joon)
April 27, 2020 - 1:43 pm
Stocks around the world rallied Monday as governments prepare to gradually lift restrictions that are meant to slow the coronavirus outbreak but are also erasing businesses and jobs. Banks, hotels, smaller companies and other businesses that stand to gain the most from people re-emerging from their...
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FILE - In this Jan. 29, 2020 file photo, Federal Reserve Chair Jerome Powell pauses during a news conference in Washington. The Federal Reserve is taking additional steps to provide up to $2.3 trillion in loans to suport American households and businesses as well as local governments as they deal with the coronavirus. The Fed said Thursday, April 9, among the actions it is taking is the activation of a Main Street Lending Program that was authorized by the $2.3 trillion economic relief bill pass by Congress last month.(AP Photo/Manuel Balce Ceneta, File)
April 27, 2020 - 11:29 am
WASHINGTON (AP) — As it prepares for this week's policy meeting, the Federal Reserve has largely calmed turbulent financial markets. Yet a far tougher task remains: Helping rescue an economy and job market that appear to be free-falling into the worst catastrophe since the Great Depression. Fed...
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FILE - In this April 17, 2020, file photo President Donald Trump speaks about the coronavirus in the James Brady Press Briefing Room of the White House in Washington. After two months of frantic response to the coronavirus pandemic, the White House is planning to shift President Trump’s public focus to the burgeoning efforts aimed at easing the economic devastation. (AP Photo/Alex Brandon, File)
April 26, 2020 - 8:21 pm
WASHINGTON (AP) — After two months of frantic response to the coronavirus, the White House is planning to shift President Donald Trump’s public focus to the burgeoning efforts aimed at easing the economic devastation caused by the pandemic. Days after he publicly mused that scientists should...
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A man wearing a face mask to protect against the spread of the new coronavirus takes a photo of blossoms at a public park in Beijing, Saturday, April 25, 2020. China on Saturday reported no new deaths from the coronavirus for the 10th straight day. (AP Photo/Mark Schiefelbein)
April 25, 2020 - 9:43 pm
The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Hawaii's stay-at-home order extended to May 31 —...
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