Avie Schneider

Apple first crossed the $1 trillion mark just two years ago. The iPhone maker and a handful of other tech giants propelled the S&P 500 index to a new record this week.

After plummeting 34% from its prior peak, the stock index has staged a steady recovery — gaining more than 50% since March, when lockdowns shut down much of the economy.

New claims for unemployment benefits rise to 1.4 million, a sign that the labor market is deteriorating as businesses close their doors again after the pandemic intensifies.

The dramatic collapse of the U.S. economy is pummeling America's largest banks. Wells Fargo has posted its first quarterly loss since 2008 and JPMorgan Chase has set aside billions to cover bad loans.

The number of people forced out of work during the coronavirus lockdown keeps soaring. Last week, 4.4 million people filed for jobless benefits, boosting the total since last month to 26 million.

The Dow fell 631 points a day after oil prices turned negative for the first time ever. The drops are the latest market reactions to the global economic downturn caused by the pandemic.

The number of people filing for unemployment climbed by another 5.2 million, as the toll of the nation's economic dive continues to mount. In the past four weeks, 22 million have filed claims.

The staggering number of people claiming jobless benefits set a new record for the second week in a row. Much of the country has been ordered to stay at home, bringing the economy to a lurching halt.

The stock market has never seen a month like March, with downs and ups of thousands of points in a day. The Dow has recovered from recent lows, but it has fallen 24% since its record high.

Citing the pandemic's "heavy toll" on its business, Macy's says it's furloughing the majority of its employees. Its stores have been closed since March 18 and there's no sign when they will reopen.