Wall Street's main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end due to the coronavirus, confirming a recession is underway.
- Wall Street’s main indexes fell on Friday as the longest period of employment growth on record in the United States came to an abrupt end due to the coronavirus, confirming a recession is underway.
The Labor Department data showed hundreds of thousands of people lost their jobs last month, but it did not completely capture the economic carnage as the survey considered data only until mid-March, before widespread lockdowns put more people out of work. The worldwide spread of the virus has forced billions of people to stay indoors and pushed entire sectors to the brink of collapse, triggering mass layoffs and dramatic steps by companies to raise cash.
Sportswear retailer Under Armour shed 1% after it decided to temporarily lay off employees at its U.S. stores.
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