Commerce locks up and retail sales plunge unprecedented 8.7%
WASHINGTON (AP) — U.S. retail sales plummeted 8.7% in March, an unprecedented decline, as the viral outbreak forced an almost complete lockdown of commerce nationwide.The deterioration of sales far outpaced the previous record decline of 3.9% that took place during...
Banks brace for big loan defaults by US, global customers
NEW YORK (AP) — The major banks in the U.S. are anticipating a flood of loan defaults as households and business customers take a big financial hit from the coronavirus pandemic. JPMorgan Chase, Wells Fargo, Bank of America, Citigroup and Goldman Sachs raised the...UnitedHealth keeps 2020 forecast as coronavirus hit emerges
UnitedHealth Group is sticking with its 2020 profit forecast for now, as the health insurance giant sifts through all the ways the coronavirus pandemic may alter its business.Company shares jumped Wednesday on another rough day for the broader market, after...
Stocks sink following grim data on economic hit from virus
NEW YORK (AP) — Selling swept Wall Street Wednesday after a dismal lineup of reports made clear how historic the coronavirus crunch has been for the economy. Markets are already bracing for what’s forecast to be the worst downturn since the Great Depression, but...