Great Recession

Coronavirus Outbreak: US economy shrinks at 4.8% in January-March quarter, first-time in six years; recession fear looms

The US economy shrank at a 4.8 percent 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

Coronavirus Outbreak: Record US jobless claims wipe out post-Great Recession employment gains

A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month as the novel coronavirus savages the economy

Wall Street pushes higher led by surging health care stocks; modest rise in European indices

Nascent optimism is budding on Wall Street that the worst of the selling may be over, but markets around the world remain tentative amid uncertainty about whether global authorities can nurse the economy through the pandemic.