Recessions and depressions

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)
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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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People wait at a bus stop, in Rome, Monday, March 9, 2020. Italy announced a sweeping quarantine early Sunday for its northern regions, igniting travel chaos as it restricted the movements of a quarter of its population in a bid to halt the new coronavirus' relentless march across Europe. (Roberto Monaldo/LaPresse via AP)
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March 09, 2020 - 9:00 pm
ROME (AP) — The Latest on the coronavirus epidemic sweeping the globe (all times local): 2 a.m. China recorded another new low in its coronavirus outbreak Tuesday. Just 19 new cases of the new virus were recorded over the previous 24 hours, the lowest update since China began reporting national...
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In this Dec. 26, 2019, photo, fruits are sold at a shop in Tokyo. Japan's economy contracted at a dismal 7.1% annual rate during the October-December period, worse than the initial estimate, raising fears the world's third largest economy could be headed to a recession. (AP Photo/Eugene Hoshiko)
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March 09, 2020 - 6:20 am
TOKYO (AP) — Japan's economy contracted at a dismal 7.1% annual rate during the October-December period, worse than the initial estimate, raising fears the world's third largest economy could be headed to a recession. The contraction was the first for Japan in more than a year and followed an Oct...
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FILE - In this Thursday, March 5, 2020 file photo, a woman wearing a face mask stands in a subway train in Milan, Italy. The focal point of the coronavirus emergency in Europe, Italy, is also the region's weakest economy and is taking an almighty hit as foreigners stop visiting its cultural treasures or buying its prized artisanal products, from fashion to food to design. Europe’s third-largest economy has long been among the slowest growing in the region and is the one that is tallying the largest number of virus infections outside Asia. (AP Photo/Antonio Calanni, File)
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March 07, 2020 - 7:07 am
MILAN (AP) — The focal point of the coronavirus emergency in Europe, Italy, is also the region's weakest economy and is taking an almighty hit as foreigners stop visiting its cultural treasures or buying its prized artisanal products, from fashion to food to design. Europe’s third-largest economy...
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Trader Michael Milano, center, works on the floor of the New York Stock Exchange, Friday, March 6, 2020. Stocks are opening sharply lower on Wall Street and bond yields are sinking to more record lows as investors fear that economic damage from the spreading coronavirus outbreak will be longer than previously thought. (AP Photo/Richard Drew)
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March 06, 2020 - 5:53 pm
WASHINGTON (AP) — The response in stock markets to the growing risk from the coronavirus has been swift and fierce. But a better gauge of fear on Wall Street may be the bond market, where the moves over the past few weeks have been even more breathtaking. Interest rates on a range of U.S...
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Supporters of Democratic presidential candidate Sen. Bernie Sanders, I-Vt., cheer as they wait for a rally to begin Thursday, March 5, 2020, in Phoenix. (AP Photo/Ross D. Franklin)
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March 05, 2020 - 10:07 pm
WASHINGTON (AP) — The Latest on the 2020 presidential election (all times local): 10 p.m. Bernie Sanders is going hard after his last rival standing for the Democratic presidential nomination. The Vermont senator is blasting former Vice President Joe Biden for accepting campaign donations from...
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FILE - In this Nov. 4, 2019 file photo, barista Porter Hahn makes an iced coffee drink for a customer in a coffee shop in Seattle. U.S. services companies grew at a faster pace in February 2020 than the previous month, an indication that the economy is still expanding, despite growing concerns about global coronavirus outbreak. The Institute for Supply Management said Wednesday, March 4, 2020 that its service-sector index rose to 57.3 from 55.5 in January. (AP Photo/Elaine Thompson, File)
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March 05, 2020 - 5:23 pm
WASHINGTON (AP) — Companies and consumers have scrapped travel plans, and factories have endured broken supply chains from the coronavirus outbreak. If employers were to respond by slashing jobs, it would significantly escalate the economic damage. For that reason, a range of job market barometers...
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In this photo taken Wednesday, Feb. 26, 2020 a man looks for recyclable materials to make money in a Johannesburg suburb. Official statistics released Tuesday, March 3, 2020 shows that the South African economy shrank by 1.4% in the fourth quarter of 2019 from the previous three-month period. (AP Photo/Denis Farrell)
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March 03, 2020 - 11:24 am
JOHANNESBURG (AP) — Widespread power cuts are blamed for pushing South Africa's economy, the continent's most industrialized, into recession, according to official statistics released Tuesday. The South African economy shrank by 1.4% in the fourth quarter of 2019 from the previous three-month...
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Woman, wearing face masks, travel on a public bus in a street in western Tehran, Iran, Saturday, Feb. 29, 2020. Iran is preparing for the possibility of "tens of thousands" of people getting tested for the new coronavirus as the number of confirmed cases spiked again Saturday, Health Ministry spokesman Kianoush Jahanpour said, underscoring the fear both at home and abroad over the outbreak in the Islamic Republic. (AP Photo/Vahid Salemi)
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February 29, 2020 - 5:16 pm
TOKYO (AP) — The coronavirus claimed its first victim in the U.S. Saturday as the number of cases shot up in Iran, Italy and South Korea and the spreading outbreak continued to shake the global economy. The virus altered daily life around the world as governments moved to combat the contagion...
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Workers wearing protective gears spray disinfectant as a precaution against the new coronavirus at a subway station in Seoul, South Korea, Friday, Feb. 28, 2020. Japan's schools prepared to close for almost a month and entertainers, topped by K-pop superstars BTS, canceled events as a virus epidemic extended its spread through Asia into Europe and on Friday, into sub-Saharan Africa. (AP Photo/Ahn Young-joon)
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February 28, 2020 - 9:33 pm
NEW YORK (AP) — The coronavirus outbreak began to look more like a worldwide economic crisis Friday as anxiety about the infection emptied shops and amusement parks, canceled events, cut trade and travel and dragged already slumping financial markets even lower. More employers told their workers to...
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