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Reproduced from EIA; Chart: Axios Visuals

The amount of jet fuel airplanes consumed last week in the U.S. plummeted to the lowest level on record, shows new government data going back nearly 30 years.

Driving the news: No other crisis in modern history has come even close to causing such a precipitous drop in demand as the novel coronavirus — including the 9/11 terrorist attacks and the 2008 economic crash.

The big picture: As the pandemic threatens lives and shuts down economies around the world, it's compelling most of us to stay home and not drive or fly.

What we're watching: How quickly demand picks back up. Consultancy Rystad Energy predicts that by the end of the year demand will be close--but still lower than--pre-pandemic levels.

Go deeper: Gasoline demand dropped a similarly staggering amount the week before.

Go deeper

9 mins ago - Technology

What a President Biden would mean for tech

Illustration: Eniola Odetunde/Axios

A Biden presidency would put the tech industry on stabler ground than it's had with President Trump. Although Biden is unlikely to rein in those Democrats who are itching to regulate the big platforms, he'll almost certainly have other, bigger priorities.

The big picture: Liberal Silicon Valley remains one of Democrats' most reliable sources for big-money donations. But a Biden win offers no guarantee that tech will be able to renew the cozy relationship it had with the Obama White House.

Virtual school is another setback for struggling retail industry

Illustration: Annelise Capossela/Axios

A virtual school year will likely push retailers even closer to the brink.

Why it matters: Back-to-school season is the second-biggest revenue generating period for the retail sector, after the holidays. But retailers say typical shopping sprees will be smaller with students learning at home — another setback for their industry, which has seen a slew of store closures and bankruptcy filings since the pandemic hit.

1 hour ago - Health

The pandemic hasn't hampered the health care industry

Illustration: Rebecca Zisser/Axios

The economy has been tanking. Coronavirus infections and deaths have been rising. And the health care industry is as rich as ever.

The big picture: Second-quarter results are still pouring in, but so far, a vast majority of health care companies are reporting profits that many people assumed would not have been possible as the pandemic raged on.