Wall Street retreated on Friday after New York ordered residents to stay home, rattling investors who had welcomed this week's fiscal and monetary measures to counter the coronavirus shock and help revive the safe-haven appeal of bonds and gold.
U.S. crude tumbled 10.7% on Friday and posted its biggest weekly decline since the 1991 Gulf War as the coronavirus epidemic dried up global demand and as officials in Washington said an envoy would head to Saudi Arabia to deal with fallout of a Saudi-Russia oil price war.
The U.S. unemployment benefits program, a key part of the safety net for the labor market, is facing its biggest test in more than a decade.
Macy's Inc said on Friday it would suspend its quarterly dividend and withdrew its 2020 sales and profit forecasts due to ongoing disruptions from store closures on the back of the fast-spreading coronavirus.
Troubled fashion retailer Ted Baker Plc said on Friday it has shut businesses that accounted for about 38% of its global retail sales in 2020 due to the coronavirus outbreak.
Goldman Sachs Group Inc's Chief Executive David Solomon got a $4 million raise in his total compensation for 2019 from 2018, according to corporate filings released on Friday.
The U.S. government will give individuals and companies an extra three months to file their 2019 tax returns, extending the deadline to July 15 amid the coronavirus outbreak.
The world's richest nations poured unprecedented aid into the global economy as coronavirus cases ballooned in the new epicentre, Europe, with deaths in Italy outstripping those in mainland China, where the virus originated.
Grocers including Walmart de Mexico have begun bowing to pressure to pull from stores tens of thousands of elderly workers who pack bags at checkouts as concerns grow about their vulnerability to coronavirus amid panic buying nationwide.
Panama's Copa Airlines on Friday said it will suspend all operations from March 22 until April 21, making it the first Latin American carrier to take such a drastic measure in order to weather the coronavirus crisis.
Wall Street wrapped up its worst week since October 2008, with the Dow Jones Industrial Average and S&P 500 sliding more than 4% on Friday as tough restrictions imposed by New York and California to try to limit the spread of the coronavirus fueled worries about damage to the U.S. economy.
The Trump administration plans to send a special energy envoy to Saudi Arabia to work with the kingdom on stabilizing the global oil market, officials said on Friday, as the U.S. scrambles to deal with a price crash so deep that regulators in Texas considered curbing production there for the first time in nearly 50 years.
Groups representing major automakers and suppliers asked U.S. lawmakers on Friday to consider new tax relief and delay the start of a new trade deal as auto sales decline as a result of the coronavirus pandemic.
U.S. airlines called on Friday for a government stimulus package meant to help them weather the coronavirus crisis by providing payroll protections, warning that around 750,000 jobs depend on the airline industry.
Wells Fargo & Co said on Friday it is suspending residential property foreclosure sales, evictions and involuntary automobile repossessions due to the coronavirus outbreak.