Recessions and depressions

This photo provided by the New York Stock Exchange shows trader Patrick Casey, left, and specialist Peter Mazza as they work on the trading floor on Friday, March 20, 2020. Stocks turned lower Friday after New York became the latest major state to mandate nearly all workers stay home to limit the spread of the new coronavirus. (Nicole Pereira/NYSE via AP)
SKY News
March 20, 2020 - 5:13 pm
Wall Street ended the week the same way it began: in full retreat from the coronavirus. Stocks fell sharply and the price of oil sank Friday as federal and state governments moved to shut down bigger and bigger swaths of the nation’s economy in the hope of limiting the spread of the outbreak. The...
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People walk among U.S. flags with the U.S. Capitol in the background, Sunday, March 15, 2020, in Washington. House Speaker Nancy Pelosi, D-Calif., said Congress has started work on a new coronavirus aid package after the one just approved by the House early Saturday. (AP Photo/Jacquelyn Martin)
SKY News
March 19, 2020 - 5:53 am
WASHINGTON (AP) — The fast-moving coronavirus upending every facet of American life is testing whether Washington, a capital city fractured by years of bitter partisanship and inaction, can still do big things. Not since the Great Recession of 2008, and before that the Sept. 11 attacks of 2001, has...
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Unionized hospitality workers wait in line in a basement garage to apply for unemployment benefits at the Hospitality Training Academy Friday, March 13, 2020, in Los Angeles. Fearing a widespread health crisis, Californians moved broadly Friday to get in front of the spread of the coronavirus, shuttering schools that educate hundreds of thousands of students, urging the faithful to watch religious services online and postponing or scratching just about any event that could attract a big crowd. (AP Photo/Marcio Jose Sanchez)
March 18, 2020 - 9:37 pm
JEFFERSON CITY, Mo. (AP) — In Ohio, more than 48,000 people applied for jobless benefits during the first two days of this week. The tally during the same period the prior week: just 1,825. In neighboring Pennsylvania, about 70,000 people sought unemployment aid in a single day — six times the...
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A recently landed Delta Air Lines plane is towed past two stripped passenger planes at Pinal Airpark Wednesday, March 18, 2020, in Red Rock, Ariz., as many passenger planes are being kept at the facility as airlines cut back on service due to the coronavirus. (AP Photo/Ross D. Franklin)
March 18, 2020 - 7:19 pm
The number of confirmed cases of the new coronavirus worldwide surpassed 200,000 for the first time Wednesday and the damage being seeded in the global economy is growing more clear by the day. Furloughs and job cuts, from dog walkers to oilfield workers, have begun. Governments around the world...
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Senate Majority Leader Mitch McConnell of Ky., walks back to his office on Capitol Hill in Washington, Tuesday, March 17, 2020. (AP Photo/Susan Walsh)
SKY News
March 18, 2020 - 1:39 pm
WASHINGTON (AP) — The Treasury Department said Wednesday it wants to dedicate $500 billion to start issuing direct payments to Americans by early next month as the centerpiece of a $1 trillion plan to stabilize the economy as the coronavirus epidemic threatens a body slam to taxpayers and...
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A trader works the floor at the New York Stock Exchange, Tuesday, March 17, 2020 in New York. (AP Photo/Mark Lennihan)
SKY News
March 17, 2020 - 11:42 pm
BEIJING (AP) — Major Asian stock markets were higher Wednesday after Wall Street rebounded on President Donald Trump's promise of aid to get the U.S. economy through the coronavirus outbreak. Benchmarks in Shanghai, Tokyo and Hong Kong all advanced. Australia's main index fell 5% and smaller Asian...
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Judie Shape, center, who has tested positive for the coronavirus, but isn't showing symptoms, presses her hand against her window after a visit through the window and on the phone with her daughter Lori Spencer, left, and her son-in-law Michael Spencer, Tuesday, March 17, 2020, at the Life Care Center in Kirkland, Wash., near Seattle. In-person visits are not allowed at the nursing home, which is at the center of the outbreak of the new coronavirus in the United States. (AP Photo/Ted S. Warren)
March 17, 2020 - 9:54 pm
BERLIN (AP) — Mass disruptions shuddered across the globe Tuesday as governments struggled to slow the spread of the coronavirus while trying to keep their economies afloat. The chaos included border traffic jams in Lithuania, the deaths of 17 elderly residents in one Madrid nursing home and a bus...
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A couple walks past Lafitte's Blacksmith Shop, known as the oldest bar in the United States dating back to the 1700s, which is closed due to an order from Louisiana's Governor John Bel Edwards to shut bars and restaurants state-wide to limit the spread of the coronavirus pandemic on Bourbon Street in New Orleans, La., Monday, March 16, 2020.(Max Becherer/The Advocate via AP)
March 17, 2020 - 11:12 am
Nearly 7 million people in the San Francisco area were all but confined to their homes Tuesday in the nation's most sweeping lockdown against the coronavirus, even as spring break crowds partied in Florida and tourists lined up to pose for pictures in front of the world-famous “Welcome to Las Vegas...
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President Donald Trump speaks during a press briefing with the coronavirus task force, in the Brady press briefing room at the White House, Monday, March 16, 2020, in Washington. (AP Photo/Evan Vucci)
SKY News
March 16, 2020 - 9:14 pm
WASHINGTON (AP) — Racing to stall an expected surge of coronavirus cases, the White House on Monday released a series of sweeping guidelines that for the next 15 days will temporarily rewrite the norms of American society. President Donald Trump, employing a newly somber tone about the crisis...
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Sal Suarino, center, works with fellow traders on the floor of the New York Stock Exchange, Tuesday, March 10, 2020. Stocks, Treasury yields and oil are clawing back some of the plunge they took a day before, when the S&P 500 had its worst drop in more than a decade. (AP Photo/Richard Drew)
SKY News
March 10, 2020 - 3:54 pm
NEW YORK (AP) — Stocks are moving sharply higher on Wall Street Tuesday after whipping up and down all day along with hopes that the U.S. and other governments will cushion the global economy from the pain of the coronavirus. The Dow Jones Industrial Average is up 1,000 points, or 4.4%, shortly...
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