This article is being republished as part of our daily reproduction of 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)

Copyright (c) 2020 Dow Jones & Company, Inc.