Daniel Grill | Tetra Images | Getty Images The odds of slipping into a recession are increasingly likely as the global coronavirus outbreak puts acute stress on the U.S. economy. That could be bad news for American workers, who may lose jobs by the millions in a downturn. For those workers who don’t receive severance
A gate area at Fort Lauderdale-Hollywood International Airport is crowded with travelers awaiting Delta flight 1420 to Atlanta Saturday, March 14, 2020. John Scalzi | AP The Trump administration is weighing “all options” to curb the coronavirus outbreak in the U.S., including an outright halt to on domestic air travel, a senior official said Sunday.
The U.S. Federal Reserve‘s latest moves — which include cutting interest rates to zero — deserve applause, even though the American economy could still head into a recession given the uncertainty around the coronavirus outbreak, a former Fed official said. “I think recessionary conditions are definitely a risk and we’re dealing with so much uncertainty
It could take years to discover the many wines of South Africa’s Western Cape. For travelers with only a few days on their hands, Cape Town is an excellent base for exploring not only the surrounding wine country, but the city’s wine bars and world-class restaurants. Spread over 40,000 square miles, the Cape Winelands include
A trader reacts as he works on the floor of the New York Stock Exchange (NYSE) on January 10, 2020 in New York City. Kena Betancur | Getty Images Stock futures tanked in overnight trading on Sunday, triggering “limit down” levels to reduce panic in markets. Contracts on the S&P 500 dropped 5%, reaching a
My husband died after a short illness 13 years ago. I was brokenhearted, and my anguish seemed endless. However, I slowly emerged from my “stage 1” deep grief/numb phase of widowhood. I entered “stage 2” of widowhood — growth — when it’s time to take care of business, including money matters. The fog lifts and
Daniel Craig stars as James Bond in “No Time To Die.” MGM 2020 was already expected to be a “light” year in the U.S. movie industry. The coronavirus pandemic will make it exponentially worse. “Near-term, it’s the single-greatest cinematic disaster financially,” Eric Schiffer, CEO of private equity firm Patriarch Organization and chairman of Reputation Management Consultants,
Traders work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE) in New York City. Drew Angerer | Getty Images Stock futures plunged Sunday night even after the Federal Reserve embarked on a massive monetary stimulus campaign to curb slower economic growth amid the coronavirus outbreak. While the central
Traders work on the floor of the New York Stock Exchange during the opening bell on March 10, 2020 in New York. Timothy A. Clary | AFP | Getty Images Goldman Sachs on Sunday downgraded its outlook for the economy in the first two quarters of 2020 as the coronavirus zaps all growth from the
Toilet paper shelves lay empty at a supermarket in Saugus, Massachusetts on March 13, 2020. Joseph Prezioso | AFP | Getty Images It’s not all in your mind. The growing panic over coronavirus is real, and fear is a rational response. What’s not a foregone conclusion is your own reaction. When markets tank, some people
Amazon Founder and CEO Jeff Bezos addresses the audience during a keynote session at the Amazon Re:MARS conference on robotics and artificial intelligence at the Aria Hotel in Las Vegas on June 6, 2019. Mark Ralston | AFP | Getty Images Since its humble origins as an online bookseller that debuted out of founder Jeff
A ticket agent helps travelers arriving on a flight from Frankfurt, Germany before travel restrictions are enacted hours later on flights from Europe entering the U.S. because of concerns of the novel coronavirus (COVID-19) at the Denver International Airport outside Denver, Colorado, U.S. March 13, 2020. Jim Urquhart | Reuters Thousands of Americans returning home
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters An economic slowdown is inevitable in the face of the fast-spreading coronavirus, but the U.S. will eventually avoid a technical recession, JPMorgan economists said. As the outbreak situation continued to worsen, JPMorgan
Treasury Secretary Steven Mnuchin told CNBC on Friday the market sell-off will be short-lived and looks like a compelling opportunity for investors looking to buy equities at a discount. “This is a short-term issue. It may be a couple of months but we’re going to get through this and the economy will be stronger than ever,”
Many international students are not able to come to the U.S. and that could cause a significant disruption in our college system. For years, there has been a major influx of students studying in this country, particularly from China. In fact, one-third of all the international students in the U.S. come from China — more
A customer pays for her groceries after shopping at a Walmart store ahead of the Thanksgiving holiday in Chicago. Kamil Krzaczynski | Reuters Walmart is reducing hours at all of its U.S. stores to allow more time to replenish shelves and clean and sanitize stores, the retailer announced Saturday in a letter on its website. The national retailer
An aircraft operated by British low cost airline Easyjet moves past other aircrafts as a rainbow is seen at Amsterdam Airport Schiphol on March 9, 2020 in Schiphol, Netherlands. Yuriko Nakao | Getty Images Shares of major U.S. airlines got a respite Friday on expectations that the government will provide targeted financial relief from the
Carl Icahn Adam Jeffery | CNBC Billionaire investor Carl Icahn told CNBC’s Halftime Report on Friday that his largest short position is in commercial real estate. This story is developing. Please check back for updates. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.
If the new coronavirus interferes with your already-planned trip, don’t count on your travel insurance to provide much help. Unless you have “cancel for any reason” coverage, you might be out of luck. While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy,
As U.S. grocery stores respond try to keep shelves stocked during the coronavirus outbreak, some major chains have begun to limit purchases of food items and ramp up hiring. Texas grocery chain H-E-B is limiting purchases of at least a dozen popular food items, including eggs, milk, bread and boxed pasta. Limits vary by item. Eggs, pasta