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Treasury Secretary Steven Mnuchin, left, accompanied by White House Legislative Affairs Director Eric Ueland and acting White House chief of staff Mark Meadows, speaks with reporters as he walks to the offices of Senate Majority Leader Mitch McConnell of Ky. on Capitol Hill in Washington, Tuesday, March 24, 2020. (AP Photo/Patrick Semansky)

Trump, Congress agree on $2 trillion virus rescue bill

Mar. 25, 2020 3:17 AM EDT

WASHINGTON (AP) — The White House and Senate leaders of both parties announced agreement early Wednesday on unprecedented emergency legislation to rush sweeping aid to businesses, workers and a health care system slammed by the coronavirus pandemic. The urgently needed pandemic response measure is the...

A woman wearing face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, March 16, 2020. Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel. (AP Photo/Vincent Yu)

Financial markets in turmoil over fear of virus lockdowns

Mar. 16, 2020 8:51 AM EDT

BEIJING (AP) — Global stocks fell sharply Monday after central bank moves to shore up economic growth failed to dispel investor's fears over virus controls that are shutting down global business and travel. There were no glimmers of optimism: European and Asian stock indexes were down as much as 10%, as...

FILE - In this Friday, March 13, 2020, file photo, a trader walks on the floor of the New York Stock Exchange during President Donald Trump's televised speech from the White House, in New York. Stock markets are set for another week of turbulent trading as U.S. index futures fell sharply after the Federal Reserve slashed interest rates and more companies and governments took action over the weekend to shut down European and American society. (AP Photo/Mark Lennihan, File)

Asian stock markets, US futures sink after Fed's rate cut

Mar. 15, 2020 11:22 PM EDT

BEIJING (AP) — Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel. Sydney's benchmark plunged 7% and Hong Kong's Hang Seng lost 2%....

FILE - In this Saturday, March 7, 2020 file photo, Blue and White party leader Benny Gantz delivers a statement in Tel Aviv, Israel. Israel's President Reuven Rivlin on Sunday, March 15 said he has decided to give Gantz the first opportunity to form a new government following an inconclusive national election this month. Rivlin's office announced his decision late Sunday after consulting with leaders of all of the parties elected to parliament. (AP Photo/Sebastian Scheiner, File)

Netanyahu rival Gantz chosen to form new Israeli government

Mar. 15, 2020 4:01 PM EDT

JERUSALEM (AP) — Israeli opposition leader Benny Gantz will be given the first opportunity to form a new government after an inconclusive national election this month, the country’s president said Sunday, raising questions about Prime Minister Benjamin Netanyahu’s political future. The...

House Speaker Nancy Pelosi of Calif., walks on Capitol Hill in Washington, Thursday, March 12, 2020, as she heads to a briefing on the coronavirus. (AP Photo/Susan Walsh)

AP sources: Travel ban to extend to United Kingdom, Ireland

Mar. 14, 2020 12:22 PM EDT

WASHINGTON (AP) — The White House is expected to announce that the U.S. will broaden its European travel ban, adding the United Kingdom and Ireland to its list. Under the restrictions, American citizens, green card holders and others are still allowed to return home to the U.S., but will be funneled to 13...

Traders listen at the New York Stock Exchange to President Donald Trump's televised speech from the White House, Friday, March 13, 2020, in New York. (AP Photo/Mark Lennihan)

Stocks roar back on hopes for government's virus plan

Mar. 13, 2020 7:33 PM EDT

NEW YORK (AP) — Wall Street roared back from its worst day in 30 years Friday with a broad rally that sent the Dow Jones Industrial Average nearly 2,000 points higher — its biggest point gain ever — after President Donald Trump declared the coronavirus pandemic a national emergency. Fueled by...

A broker watches his screens at the stock market in Frankfurt, Germany, Friday, March 13, 2020. For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Michael Probst)

Fed takes extra steps to sooth virus-rattled bond market

Mar. 13, 2020 2:20 PM EDT

WASHINGTON (AP) — The Federal Reserve and the European Central Bank have taken large steps this week to try to calm financial markets and restore some degree of confidence. So far, it hasn't quite worked. The central banks are facing a crisis only partly responsive to the medicine they can provide. On...

Traders Edward Curran, left, and Jonathan Mueller work on the floor of the New York Stock Exchange, Thursday, March 12, 2020. The deepening coronavirus crisis is sending stocks into another alarming slide on Wall Street, triggering a brief, automatic shutdown in trading for the second time this week. (AP Photo/Richard Drew)

As central banks intervene to calm markets, few see solution

Mar. 12, 2020 6:08 PM EDT

WASHINGTON (AP) — The Federal Reserve and the European Central Bank moved Thursday to try to calm financial markets and restore some degree of confidence. It didn't quite work. The central banks are facing a crisis only partly responsive to the medicine they can provide. The Fed sought to ensure that the...

A woman drinks a wine while worker cleans the bar on an empty restaurant, in Pamplona, northern Spain, Thursday, March 12, 2020. For most people, the new COVID-19 coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. (AP Photo/Alvaro Barrientos)

A look at some of the hardest hit sectors in the S&P 500

Mar. 12, 2020 5:57 PM EDT

Seven weeks after the first case of COVID-19 was confirmed in the U.S., the outbreak is now classified as a pandemic and it's doing widespread damage to critical economic sectors of the global economy. Airlines are dropping routes because people are not flying, workers are staying home, public events that raise...

Trader Michael Gallucci works at his post on the floor of the New York Stock Exchange, Wednesday, March 11, 2020. Stocks are closing sharply lower on Wall Street, erasing more than 1,400 points from the Dow industrials, as investors wait for a more aggressive response from the U.S. government to economic fallout from the coronavirus. (AP Photo/Richard Drew)

Asian shares sink after Dow hits bear level on pandemic news

Mar. 12, 2020 12:46 AM EDT

TOKYO (AP) — Asian shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. Japan's benchmark Nikkei 225 dived 4.9% to 18,468.99. Australia's S&P/ASX 200 dropped 6.6% to 5,348.60. South Korea's Kospi dipped 4.7% to 1,815.98. Hong...