The coronavirus pandemic has quickly evolved from a health care crisis to a financial one, shuttering businesses, upending industries and sending financial markets reeling.

Here’s the latest news on how the COVID-19 crisis is affecting the economy. For more on financial resources available during the pandemic, click here.

Here’s how the day is unfolding. Please refresh for updates.

Markets rally Friday

U.S. financial markets rallied Friday on hopes the U.S. economy could reopen for business soon.

The Dow Jones Industrial Average was up approximately 700 points, or 3%, when markets closed Friday. The S&P 500 was also up 2.7% and the Nasdaq rose 1.4%.

On Thursday, Trump touted plans to reopen the American economy in phases. The president said some states could enter phase one of

Read More At Article Source | Article Attribution