Updated Mar 17, 2020 - Economy & Business

Wall Street rebounds from worst day in 30 years

Traders working at the NYSE on Monday. Photo: Michael Nagle/Xinhua via Getty Images

Stocks closed up 6% on Tuesday afternoon, making up almost half of the losses from the stock market's worst day since 1987.

Why it matters: Stocks rose as measures to shield companies and the economy from the coronavirus impact — including an announcement by the Fed and a White House stimulus plan that includes sending cash payments to Americans — came to light.

By the numbers: The stock market is more volatile now than during the 2008 financial crisis.

  • The S&P 500 rose 5.9% on Tuesday, after closing 12% lower on Monday.
  • The Dow rose 5.1% (or 1,048 points), while the Nasdaq jumped 6.2%. Both indices slumped about 13% yesterday.

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Axios
Updated 38 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 5,945,737— Total deaths: 365,368 — Total recoveries — 2,515,675 — Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,747,087 — Total deaths: 102,836 — Total recoveries: 406,446 — Total tested: 16,099,515 — Map.
  3. Supreme Court: Chief Justice Roberts sides with liberals in denying challenge to California's pandemic worship rules.
  4. Public health: Hydroxychloroquine prescription fills exploded in March.
  5. 2020: North Carolina asks RNC if convention will honor Trump's wish for no masks or social distancing.
  6. Business: Fed chair Powell says coronavirus is "great increaser" of income inequality.
Other resources (<1 min. read)Arrow
Ursula Perano
2 hours ago - Politics & Policy

Deaths without consequences

Community organizations and activists demand police accountability at a rally in Grand Central Terminal to commemorate the 5-year anniversary of Mike Brown's death by Ferguson Police Officer Darren Wilson. Photo: Erik McGregor/Getty Images

Seven years after the launch of the Black Lives Matter movement, it's still rare for police officers to be charged in the deaths of African Americans — and even more rare for an officer to go to jail.

The big picture: The Minneapolis police officer who was captured on video kneeling on George Floyd's neck has been charged with third-degree murder and manslaughter — which is already a step beyond the consequences other police officers have faced. But it's no guarantee that he will face jail time.

Go deeper (3 min. read)Arrow
Axios
5 hours ago - Politics & Policy

Teenager killed after shots fired at protesters in Detroit

Detroit police during protests on Friday night. Photo: Matthew Hatcher/Getty Images

A 19-year-old man was killed on Friday night after shots were fired into a crowd of demonstrators in downtown Detroit who were protesting the death of George Floyd in Minneapolis police custody, per AP.

Details: The teenager was injured when shots were fired from an SUV about 11:30 p.m. and later died in hospital, reports MDN reports, which noted police were still looking for a suspect. Police said officers were not involved in the shooting, according to AP.

Go deeper: In photos: Protesters clash with police nationwide over George Floyd