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The Dow Jones Industrial Average soared nearly 2,000 points higher, a day after the worst day for American markets since the 1987 Black Monday crash.Friday started off with a bang in the foreign markets. Shares were up about 5% in Paris and London but fell 6.1% in Japan early Friday morning. Then the Dow continued to climb throughout Friday after the Dow lost nearly 10% of its value on Thursday. The Dow lost nearly 2,400 points on Thursday. Despite Friday's gains, the Dow has still seen a drop in value in the last month. The Dow has lost 22% of its value since last month's record high.Wild swings continued in some markets as governments stepped up precautions against the spread of the new coronavirus and considered ways to cushion the blow to their economies. India's Sensex gained 4% after plunging 10% when it opened. More central banks, including those of China, Sweden and Norway, intervened to flood credit markets with liquidity, a day after similar interventions from the U.S. Federal Reserve and European Central Bank. 1048
The Congressional Budget Office said Monday that the U.S. economy could be .7 trillion smaller over the next decade than it otherwise would have been if Congress does not mitigate the economic damage from the coronavirus.The CBO, which had already issued a report forecasting a severe economic impact over the next two years, expanded that forecast to show that the severity of the economic shock could depress growth for far longer.The new estimate said that over the 2020-2030 period, total GDP output could be .7 trillion lower than CBO had been projecting as recently as January. That would equal 5.3% of lost GDP over the coming decade.After adjusting for inflation, CBO said the lost output would total .9 trillion, a loss of 3% of inflation-adjusted GDP.CBO called this a “significant markdown” in GDP output as a result of the pandemic.“Business closures and social distancing measures are expected to curtail consumer spending, while the recent drop in energy prices is projected to severely reduce U.S. investment in the energy sector,” CBO Director Philip Swagel said in a letter.“Recent legislation will, in CBO’s assessment, partially mitigate the deterioration in economic conditions,” Swagel said in the letter to Sens. Chuck Schumer, D-N.Y., and Bernie Sanders, I-Vt. The two had requested the information as a way to pressure Republicans to follow the lead of the House and pass more economic relief.“Last week we learned that over 40 million Americans lost their jobs as a result of this horrific pandemic,” Schumer and Sanders said in a joint statement. “Today, the CBO tells us that if current trends continue, we will see a jaw-dropping trillion reduction in economic growth over the next decade.”Schumer and Sanders said Republicans should stop blocking legislation to provide more assistance given that 40 million workers have lost their jobs already.“In order to avoid the risk of another Great Depression, the Senate must act with a fierce sense of urgency,” Schumer and Sanders said.The CBO is forecasting that the GDP, which shrank at a 5% rate in the first three months of this year, will fall at a 37.7% rate in the current April-June quarter, the biggest quarterly decline on record.The CBO also issued a separate report detailing a cost estimate for a .4 trillion COVID-19 rescue bill that passed the Democratic-controlled House in mid-May. That legislation is built around 5 billion in aid to state and local governments, another ,200 payment to most American workers, and additional aid to colleges and local school districts. The price tag is slightly higher than a back-of-the-envelope figure provided by Democrats when the measure passed.Senate Republicans have dismissed the proposal as a wish list but have yet to unveil any proposal to counter it. 2817

Thank u; Coachella is "next" for Ariana Grande.The pop star highlights the 2019 Coachella Valley Arts and Music Festival, which will take place near Palm Springs, California in mid-April. Grande will headline Sunday shows on April 14 and 21.Grande's performance will kick off 2019 after a wild two years — in 2017 23 people were killed at her show in Manchester, England after a terrorist detonated a bomb, and 2018 saw a whirlwind relationship with comedian Pete Davidson and the death of her ex-boyfriend, Mac Miller.Childish Gambino will headline Friday shows at Coachella on April 12 and 19. The rapper, also known as actor Donald Glover has said that his upcoming album will be his last under the "Gambino" moniker. His 2018 music video for "This Is America" received universal acclaim.Tame Impala will headline Saturday shows on April 13 and 20. Kevin Parker, who records all of the band's music solo, won a ARIA Award for best album of the year in 2015 for the band's third album, "Currents."See the full Coachella 2019 lineup in the tweet below. 1065
The 7.1 magnitude earthquake that shook California on Friday also ripped open a fissure.When the shaking started at 8:19 p.m., many scrambled for cover. It was the second strong earthquake to hit the area in less than 48 hours.The immediate damage it caused was very clear. Stores had broken bottles and exploded cans littering their floors and other items that had been hanging on walls had toppled over.As the sun rose the next day, it also became clear that the area's topography had changed.Satellite images provided to CNN by Planet Labs, Inc. show a crack has formed in the area close to the epicenter.The large crack extends some distance from an area that apparently held water before. The erosion patterns on the desert sand indicate that some of that water was sucked out.The satellite image isn't the only evidence that the region's topography was changed by the earthquake.A nearby highway is now shutdown after tremors cracked and moved sections of the roadway. 986
The Los Angeles sheriff says gun shops are not essential businesses and he ordered them to stop selling to the public. The move by Sheriff Alex Villanueva on Tuesday enraged Second Amendment advocates, who said they planned to challenge it in court. Los Angeles County, the nation’s largest county with 10 million residents, enacted a stay-at-home order last week requiring all nonessential businesses to close. The sheriff says what he described as a “loophole” allowed gun shops to stay open and many attracted long lines of customers. Villanueva said the order was only meant to keep open businesses that support police departments and other security organizations.California is under a "stay-at-home" order amid the spread of coronavirus. The order requires non-essential businesses to effectively close in order to slow the spread of the virus. 862
来源:资阳报