The S&P 500 had its worst day on Thursday since June 11, falling 3.5 percent, and the same big tech companies that have driven the recent rally were the culprits.
A day after stocks marched to another record high, Apple tumbled 8 percent, its worst drop since March. Amazon fell
TOKYO — Japan’s economy shrank by 7.8 percent in the second quarter of the year, posting its worst performance on record as the coronavirus pandemic ground economic activity to a near halt in April and May.
The nosedive in output in the three-month period — an annualized drop of 27.8
The British economy sunk into its deepest recession on record in the second quarter, taking it back to the size it was in 2003. Official
“Everyone woke up and thought, ‘Wait a second, people are still going to do business,’” said Steve Sloane, an investor at Menlo Ventures. “They’re just going to do it online.”
Some of the shift was fueled by start-ups adapting their businesses to the pandemic. One of those was ActivityHero, an
WASHINGTON — The International Monetary Fund issued a stark warning on Tuesday about the coronavirus’s economic toll, saying that the world is facing its worst downturn since the Great Depression as shuttered factories, quarantines and national lockdowns cause economic output to collapse.
The grim forecast underscored the magnitude of the
The decision by Saudi Arabia to put an additional 300,000 barrels a day on the market was a huge gamble that backfired, and it is possible oil prices will sink again in the coming days if traders are not satisfied with the cuts announced by Saudi Arabia, Russia and their
