Dow Industrials Surge More Than 7% at Start of Challenging Week
The blue-chip index soared as investors looked to early signals that lockdowns in the U.S. and Europe were helping slow the spread of the coronavirus pandemic. Beaten-down retail and travel stocks were among the biggest gainers.
U.K. Prime Minister Boris Johnson Moved to Intensive Care
British Prime Minister Boris Johnson, fighting a serious coronavirus infection, was admitted to the intensive care unit of a London hospital, leaving his country's leadership in question at a moment of deep crisis as the virus's spread accelerates.
Oil Slides After Delay of OPEC+ Summit
U.S. crude prices fell 8%, paring some of their recent rebound after a virtual summit for producers to discuss supply cuts was postponed to later in the week.
Fed Preparing to Finance New Small- Business Payroll Loans
The Fed said it would create a new program to finance loans that banks and other lenders make through the government's emergency small-business lending program.
New York Fed Says Commercial Paper Facility Will Launch April 14
Applications for participation in the Commercial Paper Funding Facility must be submitted by Thursday, the New York Fed said.
New York Fed Finds Broad Drop in March Consumer Confidence
Almost any way look at it, Americans' outlook on the economy faltered significantly last month as the coronavirus crisis began to take hold in the U.S. economy.
South Korea Tamps Down Coronavirus, but Economy Remains Paralyzed
South Korea's economic torpor even after the coronavirus epidemic there has peaked suggests a lengthy path back to normalcy for the U.S., Europe and other countries where the worst days have yet to pass.
China Strikes $6 Billion Deal to Advance Bank Rescue
The stricken Bank of Jinzhou will unload $21 billion of assets to the central bank for less than a third of their reported value, as Beijing moves to shore up the country's overextended smaller banks.
Big Banks Favor Certain Customers in $350 Billion Small-Business Loan Program
Small-business owners have flooded banks with applications for the Paycheck Protection Program. Many were quickly rebuffed because they don't have the right kind of ties to the banks offering the loans.
For Grocers, Eggs Are Getting More Expensive
Egg prices are soaring during the coronavirus pandemic, forcing supermarkets and farmers to scramble.