Recessions and depressions

FILE - In this June 17, 2020 file photo, a sign advertises a sale at an H&M store along Lincoln Road Mall in Miami Beach, Fla. U.S. consumer confidence had a sharp drop in July to a reading of 92.6 as coronavirus cases in many parts of the country began rising again. (AP Photo/Lynne Sladky, File
SKY News
July 31, 2020 - 9:45 am
WASHINGTON (AP) — American consumers increased their spending in June by a solid 5.6%, helping regain some of record plunge that occurred after the coronavirus struck hard in March and paralyzed the economy. But the virus' resurgence in much of the country could impede further gains. Last month’s...
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FILE - In this April 1, 2020 photo, a "For Sale" sign stands in front of a home that is in the process of being sold in Monroe, Wash., outside of Seattle. Americans stepped up their home purchases in June, clawing back some of the losses after the pandemic had caused sales to crater in the prior three months. (AP Photo/Elaine Thompson, File)
SKY News
July 22, 2020 - 10:27 am
BALTIMORE (AP) — Americans stepped up their home purchases in June by a robust 20.7% after the pandemic had caused sales to crater in the prior three months. But the housing market could struggle to rebound further in the face of the resurgent viral outbreak and a shrinking supply of homes for sale...
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German Chancellor Angela Merkel, right, and French President Emmanuel Macron prepare to address a media conference at the end of an EU summit in Brussels, Tuesday, July 21, 2020. Weary European Union leaders finally clinched an unprecedented budget and coronavirus recovery fund early Tuesday, finding unity after four days and as many nights of fighting and wrangling over money and power in one of their longest summits ever. (John Thys, Pool Photo via AP)
July 21, 2020 - 6:22 am
BRUSSELS (AP) — After four days and nights of wrangling, exhausted European Union leaders finally clinched a deal on an unprecedented 1.8 trillion-euro ($2.1 trillion) budget and coronavirus recovery fund early Tuesday, after one of their longest summits ever. The 27 leaders grudgingly committed to...
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FILE - In this July 21, 2016, file photo Republican presidential candidate Donald Trump smiles as he addresses delegates during the final day session of the Republican National Convention in Cleveland. After months of insisting that the Republican National Convention go off as scheduled despite the coronavirus pandemic, Trump is slowly coming to accept that the event will not be the four-night informercial for his re-election that he had anticipated. (AP Photo/Patrick Semansky, File)
SKY News
July 12, 2020 - 2:16 pm
WASHINGTON (AP) — After months of insisting that the Republican National Convention go off as scheduled despite the pandemic, President Donald Trump is slowly coming to accept that the late August event will not be the four-night infomercial for his reelection that he had anticipated. After a venue...
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Wearing masks amid concerns of the spread of COVID-19, volunteers Karen Cooperstein, right, and Edwin Chinchilla, left, prepare food for the pubic during a drive through food pantry distribution by Catholic Charities in Dallas, Thursday, July 2, 2020. (AP Photo/LM Otero)
SKY News
July 02, 2020 - 4:27 pm
WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the...
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An electronic stock board showing Japan's Nikkei 225 index at a securities firm is seen at a street in Tokyo Wednesday, June 17, 2020. Major Asian stock markets declined Wednesday after Wall Street gained on hopes for a global economic recovery and Japan's exports sank. (AP Photo/Eugene Hoshiko)
June 18, 2020 - 12:08 am
BANGKOK (AP) — Shares fell Thursday in Asia after another day of wobbly trading on Wall Street as markets eased off the accelerator following their big rally. Japan's Nikkei 225 shed 0.3% to 22,394.45 and the Hang Seng in Hong Kong also fell 0.3%, to 24,407.59. South Korea's Kospi slipped 0.2% to 2...
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A woman walks past an electronic stock board showing Japan's Nikkei 225 index and New York Dow index at a securities firm in Tokyo Friday, June 12, 2020. Asian shares were moderately lower Friday after an overnight rout on Wall Street as investors were spooked by reports of rising coronavirus cases in the U.S. (AP Photo/Eugene Hoshiko)
June 11, 2020 - 11:18 pm
Asian shares were moderately lower Friday after an overnight rout on Wall Street as investors were spooked by reports of rising coronavirus cases in the U.S. Fear that a so-called “second wave,” is already coming has punctured bubbling optimism that a quick economic recovery was already underway...
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NYSE traders
Getty Images
SKY News
June 11, 2020 - 5:43 pm
Stocks fell sharply Thursday on Wall Street as coronavirus cases in the U.S. increased again, deflating recent optimism that the economy could recover quickly from its worst crisis in decades and raising doubts about whether the market's scorching comeback can last. The Dow Jones Industrial Average...
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In this photo taken Thursday, June 4, 2020, a pedestrian wearing a mask walks past reader board advertising a job opening for a remodeling company, in Seattle. The U.S. unemployment rate fell to 13.3% in May, and 2.5 million jobs were added — a surprisingly positive reading in the midst of a recession that has paralyzed the economy and depressed the job market in the wake of the viral pandemic. (AP Photo/Elaine Thompson)
SKY News
June 11, 2020 - 8:40 am
WASHINGTON (AP) — About 1.5 million laid-off workers applied for U.S. unemployment benefits last week, evidence that many Americans are still losing their jobs even as the economy appears to be slowly recovering with more businesses partially reopening. The latest figure from the Labor Department...
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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, June 10, 2020. Shares were trading slightly higher in Asia on Wednesday after a weekslong rally on Wall Street hit the brakes. (AP Photo/Ahn Young-joon)
June 10, 2020 - 3:06 pm
U.S. stock indexes were mostly lower Wednesday afternoon in choppy trading after the Federal Reserve said it expects to keep interest rates low through 2022 and keep up its bond purchases. The S&P 500 was down 0.5% after initially rising to 0.4% following the release of the central bank's...
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