Recessions and depressions

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)
March 12, 2020 - 5:01 am
TOKYO (AP) — Global shares plunged Thursday after the World Health Organization declared a coronavirus pandemic and indexes sank on Wall Street. France's CAC 40 slipped 6.6% to 4,306.89, while Germany's DAX lost 6.7% to 9,745.59. Britain's FTSE 100 plunged 6.5% to 5,496.67. The future contract for...
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FILE - In this Feb. 23, 2020, file photo, Australian Prime Minister Scott Morrison speaks in Sydney, at a state memorial service for the victims of recent wildfires. The Australian government on Wednesday, March 11, 2020, announced a $2.4 billion (US $1.6 billion) package to help tackle the virus outbreak that has infected nearly 120,000 people worldwide, rocked financial markets and disrupted travel.(Peter Parks/Pool Photo via AP, File)
March 12, 2020 - 2:56 am
PERTH, Australia (AP) — Australia on Thursday put forward a $17.6 billion (US $11.4 billion) stimulus package meant to stave off a recession due to the impact of the virus outbreak on its economy. The package includes cash payments for small businesses and welfare recipients to counter the impact...
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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)
March 12, 2020 - 2:35 am
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 4.4% to 18,559.63. Australia's S&P/ASX 200 dropped 7.4% to 5,304.60. South Korea's Kospi dipped 4.7% to 1,817.87...
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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)
March 11, 2020 - 11:52 pm
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 4.2% in morning trading to 18,591.01. Australia's S&P/ASX 200 dropped 5.3% to 5,420.70. South Korea's Kospi dipped 3...
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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)
March 11, 2020 - 6:23 pm
NEW YORK (AP) — Stocks careened lower Wednesday, with the Dow Jones industrials sinking more than 1,400 points, as investors became more fearful that the Trump administration and other global governments won’t be able to prevent the coronavirus outbreak from doing significant damage to the...
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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)
March 11, 2020 - 5:19 pm
NEW YORK (AP) — Stocks tumbled again Wednesday as fears about the economic damage from the coronavirus intensified and investors questioned whether any economic response from Washington would be enough — if it happens at all. The Dow Jones Industrial Average dropped 1,464 points, dragging it 20%...
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A man wearing a protective face mask walks by statues of bulls on display outside a bank in Beijing, Tuesday, March 10, 2020. Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain of the virus outbreak. (AP Photo/Andy Wong)
March 11, 2020 - 9:38 am
NEW YORK (AP) — THIS IS A BREAKING NEWS UPDATE. AP's earlier story follows below: European stock markets edged up Wednesday after Asian shares mostly declined, as governments were ramping up aid for economies reeling from the virus outbreak. France's CAC 40 gained 0.8% to 4,673, while Germany's DAX...
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A man wearing a protective face mask walks by statues of bulls on display outside a bank in Beijing, Tuesday, March 10, 2020. Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain of the virus outbreak. (AP Photo/Andy Wong)
March 11, 2020 - 8:04 am
TOKYO (AP) — European stock markets edged up Wednesday after Asian shares mostly declined, as governments were ramping up aid for economies reeling from the virus outbreak. France's CAC 40 gained 0.8% to 4,673, while Germany's DAX rose 0.6% to 10,537. Britain's FTSE 100 added 0.4% to 5,984. U.S...
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A man wearing a protective face mask walks by statues of bulls on display outside a bank in Beijing, Tuesday, March 10, 2020. Asian stock markets took a breather from recent steep declines on Tuesday, with several regional benchmarks gaining more than 1% after New York futures reversed on news that President Donald Trump plans to ask Congress for a tax cut and other quick measures to ease the pain of the virus outbreak. (AP Photo/Andy Wong)
March 11, 2020 - 5:20 am
TOKYO (AP) — European markets opened higher Wednesday after Asian shares mostly declined, as governments were ramping up aid for economies reeling from the virus outbreak. France's CAC 40 gained 2.5% to 4,750.03, while Germany's DAX rose 2.3% to 10,712.97. Britain's FTSE 100 added 1.4% to 6,043.49...
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A worker sprays disinfectant as sanitization operations against Coronavirus are carried out in the museum hosted by the Maschio Angioino medieval castle, in Naples, Italy, Tuesday, March 10, 2020. (Alessandro Pone/LaPresse via AP)
March 11, 2020 - 3:49 am
ROME (AP) — The boisterous hum of Rome dwindled to a whisper and police patrols kept people apart in cafes as Italy enforced an extraordinary, sweeping lockdown in hopes of not becoming the next epicenter of the spreading coronavirus epidemic now that life in China is edging back to normal...
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