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The Dow Jones Industrial Average had its largest single-day drop in the market's history on Thursday.The Dow finished the day down nearly 1,193 points. The previous largest one-day drop for the Dow was on Feb. 5, 2018, when the index lost 1,175 points.The Dow has lost more than 3,500 points since Friday, marking one of the worst weeks for the market in the last calendar year. Three of the five largest single-day drops in Dow Jones history took place this week.Stocks have been falling amid fears of a worldwide slowdown due to the spread of COVID-19, better known as the coronavirus. Though 607
The Centers for Disease Control (CDC) is sending out a warning to deer hunters. Monday, the CDC said it’s encouraging hunters to use personal protective equipment while field dressing deer to avoid contracting tuberculosis. 236
The Boston Marathon is going virtual in 2020.Initially, the race was moved from April 20 to September 14 but was canceled Thursday due to the COVID-19 pandemic.According to 185
The Federal Reserve on Wednesday voted to raise interest rates despite new signs of economic softening and weeks of market volatility.Central bankers unanimously agreed under Chairman Jerome Powell to lift the federal funds rate, which controls the cost of mortgages, credit cards and other borrowing, to a range of 2.25% and 2.5%.Interest rates have increased seven times since President Donald Trump took office. Four of those increases have been under Powell.The policy decision comes even as Trump called on the Fed to move cautiously "before they make yet another mistake," shortly before policy makers began their two-day policy-setting meeting in Washington on Tuesday. 688
The number of new cases in China has dropped for a second straight day in a virus outbreak that has infected about 45,000 people and killed more than 1,100. While most of the infections have been in China, it has gradually rippled overseas. Thirty-nine new cases were confirmed on a cruise ship quarantined in Japan, bringing the total to 174 on the Diamond Princess. China is struggling to restart its economy after the annual Lunar New Year holiday was extended to try to curb the spread of the virus. Traffic remained light in Beijing and many people were still working at home.In an effort to jumpstart the economy, Chinese President Xi Jinping Tuesday promised tax cuts and other aid to industries hurt by the novel coronavirus outbreak.Xi's announcement comes as companies face increasing losses due to the closure of factories, offices, shops and other businesses in the most sweeping anti-disease measures ever imposed. The measures have disrupted travel and other industries. Some businesses are beginning to reopen but many face heavy losses. Xi said Beijing needs to “maintain stable economic operation and social harmony." 1147
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