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Coronavirus is unleashing an ‘economic shock wave’ not felt since the 1930s, hedge fund manager Mark Yusko warns

Hedge fund manager Mark Yusko is telling investors to brace for a nearly once in a lifetime downturn. The Morgan Creek Capital Management CEO and CIO sees the Great Depression as the closest comparison to what’s...

10-year Treasury yield heads for weekly decline as coronavirus crisis deepens

Long-maturity Treasury yields fell slightly on Friday after March jobs report showed a surge in layoffs, giving a hint at the economic damage caused by the coronavirus crisis. The yield on the benchmark 10-year Treasury note...

Here’s what happened to the stock market on Friday

Dow Jones Industrial Average falls 360 points The Dow slid 360.91 points, or 1.69%, to close at 21,052.53. The S&P 500 closed 1.51% lower at 2,488.65. The Nasdaq Composite fell 1.53% to 7,373.08. Mounting worries over the coronavirus and a dismal jobs...

Coronavirus effect could be ‘far deeper than the subprime crisis,’ says mortgage company CEO

KEY POINTS Borrowers with government-backed mortgages, through Fannie Mae, Freddie Mac, the FHA or the VA,  are entitled to a loan forbearance plan under the administration’s economic recovery plan. They can miss up to one...

These states could be hit with the biggest job losses from the coronavirus pandemic

KEY POINTS When the coronavirus pandemic eventually subsides, the economic impact will be felt unevenly from one part of the country to another. The regions feeling the biggest impact may also see the fastest growth...

Small businesses have ‘a million questions’ about paycheck relief loan as applications come due

KEY POINTS The SBA has set Friday as the day that small businesses can start applying for the paycheck protection program. Loans of 2.5 times a company’s average monthly payroll are forgivable as long as...