Layoffs top 44 million in US as virus resurgence hits Wall Street
Wall Street stocks plunge at the start of trading today, reversing recent gains as traders became spooked by resurgent virus cases in parts of the country. – EPA pic, June 12, 2020.
LAYOFFS caused by the coronavirus pandemic reached 44.2 million in the United States even as businesses try to reopen, with analysts warning of continuing damage to the world’s largest economy as Covid-19 shows few signs of abating. Wall Street stocks plunged at the start of trading today, reversing recent gains as traders became spooked by resurgent virus cases in parts of the country and new Labour Department data showed another 1.54 million workers putting in unemployment benefit claims last week.
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