What's News: Business & Finance -- WSJ
April 04 2020 - 3:02AM
Dow Jones News
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (April 4, 2020).
U.S. employers shed more jobs in March than in any month since
the 2007-09 recession, inflicting damage to the labor market that
economists say dwarfs the most significant downturns of the
post-World War II era.
The government's small-business loan program got off to a rocky
start, with some big banks saying they weren't yet able to process
applications.
Several U.S. airlines applied for government funds to keep
paying workers, but said they still needed more cash.
U.S. stocks fell. The Dow industrials retreated 1.7%. The
S&P 500 and Nasdaq both lost 1.5%.
Walmart's sales rose rapidly in stores and online in recent
weeks as shoppers stockpiled supplies.
Saudi Arabia and Russia are pressing the U.S. to coordinate oil
output cuts in a bid to stabilize prices.
Trump promised oil-industry leaders that the government would
help revive the sector.
(END) Dow Jones Newswires
April 04, 2020 02:47 ET (06:47 GMT)
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