Higher Rock Education - Economics Blog

Monday, March 16, 2020

Economics in the News – March 9-15

Economics impacts our lives every day. Below are some of the top storylines from this past week in economic news. 

  • The Dow Jones Industrial Average (DJIA) ended its 11-year bull market on Wednesday when the New York Stock Exchange closed down 20.3% from its most recent high reached on Feb. 12. The recent decline followed the World Health Organization’s declaration that the coronavirus is a , pandemic after it reached 112 countries and regions around the world. The DJIA closed at 23,553.22 on Wednesday. (The Wall Street Journal ($)).

  • Rarely do sports come to a halt, but the coronavirus has brought the $160 billion dollar sports industry to a stop with the top sports leagues and associations suspending or cancelling their seasons. The New York Times ($) details the possible financial impact that many leagues and teams are facing.

  • New Rochelle, a suburb of New York City, has been one of the worst hit locations for the coronavirus in the United States. A one-mile area has been marked as a containment zone, but the entire community has been impacted. 60 Minutes reports on how the virus has affected the local economy with restaurants, schools and stores all shutting down.

  • The United States is far from the only country in the world to be impacted by the coronavirus. CNBC details how the global economy has suffered due to the pandemic.

  • The Washington Post ($) reports that inflation is gaining momentum. February’s core consumer price index, increased 2.4% over the prior 12 months, the most since September 2008. The core consumer price index excludes volatile energy and food prices. 
  • Italian Premier Giuseppe Conte issued a nationwide lockdown to help in slowing the spread of the coronavirus in Italy. The Associated Press details how the ban restricts Italians to travel besides work, health-related reasons and other cases of necessity.

© Higher Rock Education and Learning, Inc. All rights reserved. No portion of this site may be copied or distributed by any means, including electronic distribution without the express written consent of Higher Rock Education and Learning, Inc.