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Data: S&P Global Market Intelligence; Chart: Danielle Alberti/Axios

Bankruptcy filings hit a decade-high last year — though, by one measure, they eclipsed the financial crisis high.

The big picture: 7% of companies that filed for bankruptcy had over $1 billion in liabilities, the highest share in at least 10 years, according to S&P Global Market Intelligence.

What they’re saying: The energy and consumer sectors saw the bulk of filings, with the pandemic slamming “companies that relied on consumer spending and those in the energy industry that suffered a historic downturn in oil prices,” researchers wrote.

Sign up for Axios Markets for more content like this.

Go deeper

Dion Rabouin, author of Markets
Jan 28, 2021 - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

24 mins ago - Health

Axios AM Deep Dive: Covid forever

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It was 563 days ago that the WHO declared Covid-19 a pandemic. This Axios AM Deep Dive, led by healthcare reporter Caitlin Owens, looks at our Covid future.

Federal judge blocks vaccine mandate for NYC teachers

Students are dismissed from the first day of school at PS 133 in Brooklyn on Sept. 13. Photo: Michael Nagle/Xinhua via Getty Images

A federal appeals court judge on Friday temporarily blocked New York City schools from enforcing a vaccine mandate for school employees, days before it was set to take effect, AP reports.

Driving the news: The vaccine mandate was set to begin on Monday, prompting concerns over staffing shortages in schools across the nation's largest school system.