Business & Economy
Business & Economy
![Left to right: Jennifer Koh, Molly Kirk Palier and Rory Ferreira Juergen Frank, Liz Rhode/Courtesy of the artists](https://www.nwpb.org/wp-content/uploads/2020/03/collage20200318-3d7163ed4165bfc69a942ba8d17866d0679926c0-500x500.jpg)
From Symphony Orchestras To Wedding Bands, Musicians Cope With The Coronavirus Cancellations
Bigger artists may count on fan support and labels to carry them through canceled tours, but working musicians — from orchestra members and wedding singers to indie rappers — are looking elsewhere.
![President Donald Trump speaks Tuesday during a press briefing with the coronavirus task force at the White House. Evan Vucci/AP](https://www.nwpb.org/wp-content/uploads/2020/03/ap_20077595919363-6427cff06a0951e4e14da7569afd14888e38c2a4-500x500.jpg)
White House Pushes For Quick, Direct Payments To Americans In Response To Coronavirus
“We want to go big,” President Trump said as his administration seeks to boost the now stalled economy.
![Visitors to Western State Hospital and other state facililties are being screened for coronavirus before they are allowed to enter. CREDIT: PHIL THOMAS / ASYLUMPROJECTS.ORG - TINYURL.COM/J28OGDB](https://www.nwpb.org/wp-content/uploads/2020/03/Western-State-Hospital-CREDIT-Phil-Thomas-500x476.jpg)
Coronavirus Prompts New Mandatory Work Measures At Washington State Agencies
Even as Washington Gov. Jay Inslee uses his emergency powers to restrict gatherings of more than 50 people and orders the closure of bars, restaurants and other gathering spaces for at least the next two weeks, state agencies are scrambling to implement emergency measures to protect their employees and those they serve from the rapid spread of coronavirus.
![Markets are falling sharply, even after the Federal Reserve aggressively cut interest rates to near zero. CREDIT: Johannes Eisele/AFP via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/03/Market-Fall-sharply-stock-market-CREDIT-Johannes-Eisele-AFP-Getty-Images-500x500.jpg)
Stocks Go Into Shock. Dow Plunges Nearly 3,000 Points
U.S. stock indexes fell sharply Monday, a day after the Federal Reserve aggressively cut interest rates to near zero in a bid to stop the economy from crashing. The Dow Jones Industrial Average dropped 2,997.20 points, or about 13%, as coronavirus measures rapidly expanded. The S&P 500 index lost nearly 12%.
![Federal Reserve Chairman Jerome Powell has been a frequent target of President Trump, who has urged the central bank to slash interest rates more aggressively. CREDIT: Eric Baradat/AFP via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/03/gettyimages-1173649780-1aa3328a2693990688e800cfbbd9c88f34f5906f-500x500.jpg)
Fed Cuts Rates To Near Zero As Coronavirus Rips Through Economy
The Federal Reserve cut its key interest rate to near zero — a dramatic move not seen since the depths of the 2008 financial crisis. President Trump — who has slammed the Fed — praised the move.
![After weeks of turmoil over the economic toll of the coronavirus, U.S. stock indexes entered a bear market, signaling an end to their 11-year winning streak. CREDIT: Bryan R. Smith/AFP via Getty Images](https://www.nwpb.org/wp-content/uploads/2020/03/gettyimages-1206734307-fc0aa85a0be03a9393bccfb8b260a4f69172e8bb-500x500.jpg)
Dow Plunges 2,300 Points, Market Moves Into Bear Territory With Biggest One-Day Drop Since ’87
The Dow Jones Industrial Average fell nearly 10% — its biggest one-day drop since 1987 — as the coronavirus pandemic continued to rattle markets. Trading was temporarily halted earlier in the day.
![PepsiCo](https://www.nwpb.org/wp-content/uploads/2020/03/pepsi-building-7a9660555a9c940c4b89d06ba60aca782693071d-500x500.jpg)
PepsiCo Seeks Boost In Energy Drink Market With Purchase Of Rockstar
PepsiCo’s move to purchase Rockstar reflects shifting consumer tastes, which have steadily moved away from soda to other offerings such as tea-flavored beverages and low-calorie drinks.
![Saudi Arabian oil rigs](https://www.nwpb.org/wp-content/uploads/2020/03/oil-rigs-500x500.jpg)
Oil Prices, Stocks Plunge After Saudi Arabia Stuns World With Massive Discounts
Oil prices and stock indexes were in freefall Sunday after Saudi Arabia announced a stunning discount in oil prices — of $6 to $8 per barrel — to its customers in Asia, the United States and Europe.
![Hiring stock image](https://www.nwpb.org/wp-content/uploads/2020/03/employment-virus-impact-500x500.jpg)
U.S. Added 273,000 Jobs Last Month, But Economists Brace For Coronavirus Impact
Economists warned that business and consumer caution about the virus is likely to weigh on job growth in the months to come.
![Wells Fargo, which has endured a cascade of scandals in recent years, announced Monday that two board members have resigned. Smith Collection/Gado/Getty Images](https://www.nwpb.org/wp-content/uploads/2020/03/wells-fargo-4b5a51d23c396c7705b5f7e9ca78ad8539b945db-500x500.jpg)
Wells Fargo Officials Resign Days Before They Were Set To Testify Before Congress
Elizabeth Duke and James Quigley were scheduled to testify. Democrats last week said Wells Fargo was slow to “correct serious deficiencies in its infrastructure for managing risks to consumers.”
![A trader reacts on the floor of the New York Stock Exchange on Monday. Major U.S. stock indexes plunged 7% before trading was temporarily halted. Richard Drew/AP](https://www.nwpb.org/wp-content/uploads/2020/03/ap_20069467136336-c0839b43ae17e3169add6400862eaae5176bf0d8-500x500.jpg)
Dow Dives, New York Stock Exchange Temporarily Halts Trading As Stock Indexes Plummet
New York Stock Exchange trading was halted temporarily after indexes plunged 7% in reaction to Saudi Arabia’s oil price cut amid increasing fears over the coronavirus epidemic’s economic impact.
![President Trump speaks as Vice President Pence listens during a Wednesday news conference about the U.S. response to the new coronavirus. CREDIT: Evan Vucci/AP](https://www.nwpb.org/wp-content/uploads/2020/02/ap_20057855867096_wide-6d305d9933312fe0fbc297f9ded4475ef88eb3de-500x500.jpg)
President Trump Appoints Mike Pence To Lead Government’s Coronavirus Response
“Mike is going to be in charge,” Trump said in an evening news conference, as officials said a case in the U.S. may have been transmitted within the community.