Recessions and depressions

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)
1010 WINS Newsroom
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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Trader Peter Tuchman works on the floor of the New York Stock Exchange Monday, March 16, 2020. (AP Photo/Craig Ruttle)
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March 17, 2020 - 12:07 am
BANGKOK (AP) — Shares reversed early losses in Asia on Tuesday after the U.S. stock market plunged to its worst day in more than three decades and huge swaths of many economies came to a standstill as businesses and travel shut down due to the virus outbreak. Tokyo's Nikkei 225 reversed early...
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A customer wearing a face mask as a precaution against the new coronavirus, stands next to an empty shelf at a supermarket in Lima, Peru, Monday, March 16, 2020. Peruvian President Martin Vizcarra has declared a state of emergency, ordering citizens to stay in their homes and temporarily suspending certain constitutional rights, to contain the spread of coronavirus. According to the World Health Organization, most people recover in about two to six weeks from the new coronavirus, depending on the severity of the illness. (AP Photo/Rodrigo Abd)
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March 16, 2020 - 11:19 pm
The Latest on the coronavirus pandemic, which has infected more than 182,000 people and killed more than 7,100. The COVID-19 illness causes mild or moderate symptoms but most people, but severe symptoms are more likely in the elderly or people with existing health problems. More than 79,000 people...
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FILE - In this May 8, 2019, file photo, New Zealand's Reserve Bank Governor Adrian Orr speaks to the media in Wellington, New Zealand. New Zealand's central bank on Monday, March 16, 2020 cut the benchmark interest rate to a record low 0.25%. The cut of 0.75% came outside of the bank's normal schedule for changing rates. The Reserve Bank of New Zealand said in a statement that the negative impact of the pandemic on the New Zealand economy will be significant. For most people, the new coronavirus causes only mild or moderate symptoms. For some, it can cause more severe illness, especially in older adults and people with existing health problems. (AP Photo Nick Perry, File)
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March 16, 2020 - 10:56 pm
WELLINGTON, New Zealand (AP) — New Zealand's government said Tuesday it would spend billions of dollars supporting hard-hit companies as it tries to shore up an economy headed for recession because of the coronavirus. The stimulus package is equivalent to 4% of GDP. A large chunk of the new...
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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)
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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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Tony Berastegui, left, and his sister Giselle, age 12 and nine respectively, do their school work at home on the dining room table as the COVID-19 coronavirus pandemic forced schools to close Monday, March 16, 2020, in Laveen, Ariz. (AP Photo/Ross D. Franklin)
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March 16, 2020 - 9:00 pm
Millions of Americans holed up at home against the coronavirus Monday, with many of them thrown out of work until further notice, as authorities tightened the epic clampdown and the list of businesses forced to close across the U.S. extended to restaurants, bars, gyms and casinos. With the U.S...
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FILE - In this April 16, 2019, file photo, attendees take a close look at cars from BYD at the Auto Shanghai 2019 show in Shanghai. China’s auto sales plunged 81.7% in February, 2020, from a year ago after Beijing shut down much of the economy to fight a virus outbreak, adding to problems for an industry that already was struggling with shrinking demand. (AP Photo/Ng Han Guan, File)
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March 16, 2020 - 5:44 pm
DETROIT (AP) — When the coronavirus cut off the flow of parts from China in early January, most global automakers were ready: Anticipating such a crisis, they had prepared to tap other suppliers and to conserve parts that they had stored. Now, they face fast-moving new threats that seem beyond...
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A parking lot attendant walks through a typically full parking lot now largely empty over people staying home due to the worldwide coronavirus pandemic in Dubai, United Arab Emirates, Monday, March 16, 2020. For most people, the new coronavirus causes only mild or moderate symptoms. For some it can cause more severe illness. (AP Photo/Jon Gambrell)
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March 16, 2020 - 2:36 pm
Global markets and businesses big and small opened the week to a landscape seemingly altered by the coronavirus pandemic. National retail chains have closed all stores. Banks are taking steps to keep cash on hand, lots of it. Markets in Asia, Europe and the U.S. are plunging. Following is a quick...
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Federal Reserve Chair Jerome Powell pauses during a news conference, Tuesday, March 3, 2020, while discussing an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)
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March 15, 2020 - 8:48 pm
WASHINGTON (AP) — The Federal Reserve took massive emergency action Sunday to try to help the economy withstand the coronavirus by slashing its benchmark interest rate to near zero and saying it would buy $700 billion in Treasury and mortgage bonds. The Fed’s surprise announcement signaled its...
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President Donald Trump speaks during a news conference about the coronavirus in the James Brady Briefing Room at the White House, Saturday, March 14, 2020, in Washington. (AP Photo/Alex Brandon)
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March 14, 2020 - 9:21 pm
WASHINGTON (AP) — President Donald Trump said Saturday he had the power to fire or demote Federal Reserve Chairman Jerome Powell, adding new fuel to his long-running animus toward the central bank’s leader at a moment when the economy was at risk of edging into recession. Trump told reporters that...
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