The Dow's early gains evaporated Wednesday afternoon, dropping from a session high of up 300 points to finish the day down 167. Stocks fell because the latest news from the Federal Reserve confirmed for investors that economic growth will lead to higher interest rates, per CNBC.
The Fed "made it clear that you're going to see more rate hikes ... The question for the market now is how many."— market strategist Quincy Krosby to CNBC
Illustration: Aïda Amer/Axios
Joe Biden on Thursday returned to his hometown of Scranton, Pennsylvania, to give his first major speech on economic policy since becoming the Democratic Party’s presumptive presidential nominee.
Axios Re:Cap digs into Biden's plans, how they developed and how they may change, with former U.S. Commerce secretary and campaign surrogate Penny Pritzker.
Tokyo in the time of coronavirus. Photo: Charly Triballeau/AFP via Getty
Many politicians and public health officials sounded a similar lockdown refrain in the spring: let’s do this right so we only have to do it once.
Reality check: While some countries have thus far managed to keep cases under control after opening up, dozens of countries that had initially turned a corner are now seeing a worrying rebound. They have to decide if and how to return to lockdown — and whether their populations will stand for it.