Recessions and depressions

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 1, 2020. Shares have dropped in Asia after Wall Street ended its best month in 33 years with losses on fresh news of economic carnage from the coronavirus pandemic. (AP Photo/Eugene Hoshiko)
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May 01, 2020 - 10:23 am
Stocks are falling in early trading on Wall Street Friday as major U.S. companies provide details of how the coronavirus is disrupting their businesses. The S&P 500 was down 2% after the first half-hour of trading, following losses in London and Tokyo. Treasury yields rose, while crude oil...
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FILE - In this Saturday, March 14, 2020 file photo, an Apple logo adorns the facade of the downtown Brooklyn Apple store in New York. Apple’s new iPad brings PC-like trackpad capabilities for the first time, as the company seeks to make its tablet even more like a laptop computer. Apple says the trackpad will offer more precision than fingers in selecting text and switching between apps. (AP Photo/Kathy Willens, File)
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April 30, 2020 - 6:23 pm
BERKELEY, Calif. (AP) — Apple's profit dipped slightly while revenues rose in the January-March quarter, reflecting early fallout from a coronavirus pandemic that shut down its factories and then forced hundreds of Apple retail stores to close. The results released Thursday give the first sign of...
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April 30, 2020 - 3:34 pm
MEXICO CITY (AP) — Mexico’s economic activity dropped 1.6% in the first quarter compared to the final three months of 2019, plunging the country deeper into a recession that predated the pandemic, according to a report released Thursday by the government statistical agency. It was the fifth...
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FILE - In this April 17, 2020 file photo, the sun sets behind an array of pump jacks outside Midland, Texas. The near shutdown of the economy in response to COVID-19 has reduced demand for oil, lumber and other commodities, sending their prices sharply lower.  Energy has borne the brunt of the selling, with the price of U.S. oil for May delivery plunging last week below zero for the first time. (Eli Hartman/Odessa American via AP)
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April 30, 2020 - 11:15 am
LOS ANGELES (AP) — The near shutdown of the economy in response to COVID-19 has reduced demand for commodities like oil, lumber and copper and triggered sharp drops in their prices, but some analysts predict the stage is set for a rebound. Energy has borne the brunt of the selling as cars stay...
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In this Wednesday, April 29, 2020 photo a man walks in front of the European Central Bank in Frankfurt, Germany. The European economy shrank by 3.8% in the first quarter, the most since records began, as business activity was frozen by shutdowns aimed at preventing the spread of the coronavirus. It was the biggest drop since statistics started in 1995 and bigger than the plunge in the midst of the global financial crisis in the first quarter of 2009 after the bankruptcy of U.S. investment bank Lehman Brothers. (AP Photo/Michael Probst)
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April 30, 2020 - 8:29 am
FRANKFURT, Germany (AP) — The European Central Bank is stepping up its measures to cushion the economy against a record downturn caused by the lockdowns on business due to the virus outbreak, offering large helpings of cheap credit to banks in hopes it will be passed on to struggling businesses...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. The Federal Reserve said Friday, April 24, it had $85.8 billion in loans outstanding last week in three of the programs it rolled out last month to protect the economy during the coronavirus pandemic.   (AP Photo/Jacquelyn Martin, File)
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April 29, 2020 - 6:05 pm
WASHINGTON (AP) — The Federal Reserve signaled Wednesday that it will keep its key short-term interest rate near zero for the foreseeable future as part of its extraordinary efforts to bolster an economy that is sinking into its worst crisis since the 1930s. Chairman Jerome Powell noted the gravity...
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Mohammad Ikram closes a large door to his business Hot Stop, fully stocked but closed during the coronavirus pandemic, on the boardwalk in Atlantic City, N.J., Tuesday, April 28, 2020. (AP Photo/Matt Rourke)
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April 29, 2020 - 5:09 pm
WASHINGTON (AP) — Devastated by the coronavirus, the U.S. economy is sinking. And the plunge is accelerating. Now, as some businesses in a few states start to trickle back to work, hopes are beginning to arise that the economy, damaged as it is, might be poised to rebound by the second half of the...
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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, April 29, 2020. Asian stock markets gained Wednesday after France and Spain joined governments that plan to ease anti-virus controls and allow businesses to reopen. (AP Photo/Ahn Young-joon)
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April 29, 2020 - 4:49 pm
Stocks around the world whipped higher Wednesday, riding a wave of optimism on encouraging data about a possible treatment for COVID-19. The upswell of hope was so strong that investors completely sidestepped a report showing the outbreak drove the U.S. economy to its worst quarterly performance...
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FILE - In this April 8, 2020, file photo, a pedestrian strolls past small businesses that are shuttered closed during the coronavirus epidemic in the Crown Heights neighborhood of Brooklyn in New York. As of mid-April, about 26 million Americans had filed unemployment claims in the first five weeks since governments began ordering people to stay home and some businesses to close as a precaution against spreading the virus that causes the COVID-19 disease. It's already the worst stretch of job losses in U.S. history. New unemployment data to be released Thursday, April 30, 2020, is expected to push that total even higher. (AP Photo/Mark Lennihan, File)
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April 29, 2020 - 4:24 pm
JEFFERSON CITY, Mo. (AP) — A surge in unemployment stemming from the coronavirus shutdown of large parts of the U.S. economy is starting to push some state jobless funds toward insolvency. At least a half-dozen states already have notified the federal government that they could need to borrow...
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FILE- In this Feb. 14, 2018, file photo the logo for Alphabet appears on a screen at the Nasdaq MarketSite in New York. Google parent Alphabet report their latest results Tuesday, April 28, 2020 after the closing bell. (AP Photo/Richard Drew, File)
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April 28, 2020 - 4:46 pm
BERKELEY, Calif. (AP) — Google reported its weakest revenue growth in nearly five years as the pandemic-driven recession began to shrivel its advertising sales in the first quarter. The January-March earnings for Google parent Alphabet offer a first look at how the digital ad market has fared amid...
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