Finance

WASHINGTON — During the financial crisis a decade ago, President Barack Obama could look around the room and turn to an economist who served as Harvard’s president, a former president of the New York Federal Reserve and a renowned academic considered one of the world’s authorities on the Great Depression. As President Donald Trump confronts […]

NEW YORK — Schools shut down across much of Europe. Gatherings were canceled or banned from California to Germany. And the coronavirus reached directly into the world’s centers of power Thursday, with politicians in Canada, Brazil, Spain and elsewhere either testing positive for the new virus or putting themselves in quarantine as fallout from the

WASHINGTON — Financial markets plunged again on Thursday, with Wall Street suffering its biggest one-day drop since the Black Monday stock market crash in 1987, as Washington struggled to reach agreement on how to respond to the growing economic threat posed by the spread of the coronavirus. The Federal Reserve, in a drastic attempt to

Airlines and travelers are still sorting out the new travel ban that President Donald Trump announced late Wednesday that bars most foreign visitors coming to the U.S. from continental Europe for 30 days. The ban will affect 7,300 flights — and more than 2 million airline seats — scheduled from 26 European nations to the

Economists say that a recession fueled by the coronavirus pandemic is on the horizon and warn that if policymakers don’t move quickly, the damage could be painful. Yet so far, the White House and congressional Republicans haven’t released any actual policy proposals to deal with the economic blows of COVID-19.  “It could very plausibly be

The Federal Reserve and European Central Bank took steps to calm financial markets and boost their economies Thursday, yet traders were unimpressed as U.S. share prices plunged by the most in three decades By CHRISTOPHER RUGABER AP Economics Writer March 12, 2020, 10:22 PM 5 min read WASHINGTON — The Federal Reserve and the European

WASHINGTON — The Trump administration is exacerbating an already antagonistic relationship with the European Union just when global health experts and economists are calling for a coordinated global response to the coronavirus. The administration’s surprise decision Wednesday to ban travelers from the European Union, but not the United Kingdom, where diplomatic relations are better, has

Stocks that moved heavily or traded substantially on Thursday: Live Nation, Carnival fall; Vir Biotechnology rises March 12, 2020, 8:25 PM 2 min read NEW YORK — Stocks that moved heavily or traded substantially on Thursday: United Airlines Holdings Inc., down $12.26 to $37.08. The U.S. is restricting travel from most of Europe for 30

For instance, when stocks fall sharply, prices of U.S. government bonds — the haven of choice for global investors — should go up, helping to mitigate the losses on stocks. But on Wednesday, that did not happen. As the S&P 500 collapsed, bond prices fell sharply too — pushing yields, which move in the opposite

Airlines are stuck in a severe patch of turbulence as the virus outbreak causes passengers to cut back on travel, clouding the industry’s growth prospects By DAMIAN J. TROISE AP Business Writer March 12, 2020, 6:21 PM 3 min read NEW YORK — Airlines are stuck in a severe patch of turbulence as the virus