Mar 17, 2020

Holed up in the US: Coronavirus shutdown threatens jobs

Posted Mar 17, 2020 12:48 AM

Millions of Americans are holed up at home against the coronavirus, with many of them thrown out of work until further notice.

Authorities have tightened the epic clampdown and the list of businesses forced to close across the U.S. has been extended to restaurants, bars, gyms and casinos.

The rapid work stoppage had Americans fretting about their jobs and their savings, threatened to overwhelm unemployment benefit programs, and heightened fears the country could plunge into a recession.

With the U.S. economy shuddering to a halt, the Dow Jones Industrial Average saw its biggest one-day percentage loss in decades.