Avie Schneider

Updated at 4:14 p.m. ET

The Dow Jones Industrial Average dropped 509 points Monday following a report that large global banks were involved in transactions flagged as possible money laundering.

And hopes for another relief measure from Congress flagged as lawmakers focused on the fight over a Supreme Court nomination following the death of Justice Ruth Bader Ginsburg.

Updated at 1:16 p.m. ET

Apple has hit $2 trillion in market value, the first publicly traded U.S. company to do so.

The iPhone maker first crossed the $1 trillion milestone just two years ago.

This week, Apple and a handful of other tech giants propelled the S&P 500 index to a new record. Apple's stock is up nearly 60% this year.

Updated at 11:34 a.m. ET

New claims for unemployment benefits rose last week for the first time in four months — since March 28 — as states began reimposing lockdown restrictions in an effort to reverse a surge of coronavirus cases.

More than 1.4 million new claims were filed during the week ending July 18, an increase of more than 100,000 over the week before, the Labor Department reported Thursday.

Updated at 12:45 p.m. ET

The dramatic collapse of the U.S. economy from the coronavirus is pummeling America's largest banks, raising new concerns about how much growth is slowing.

Updated at 4:59 p.m. ET

After opening sharply lower, U.S. stock indexes climbed Monday after the Federal Reserve announced it will begin buying corporate bonds. It was the central bank's latest step to help an economy battered by the coronavirus pandemic.

The Dow Jones Industrial Average closed up 157 points, or nearly 0.6%, and the broader S&P 500 index rose 0.8%. The Dow was down nearly 600 points shortly after the opening.

Updated at 9:38 a.m. ET

More than 1 in 4 U.S. workers have lost their jobs since the coronavirus crisis shut down much of the economy in March.

Just last week, another 2.1 million people filed for unemployment benefits, the Labor Department said Thursday. That's down 323,000 from the previous week but brings the total for the past 10 weeks to 40.8 million, which represents 26% of the civilian labor force in April.

Updated at 5:36 p.m. ET

Tensions between President Trump and Twitter escalated Wednesday as he threatened to "strongly regulate" or shut down social media platforms, which he accused of silencing conservative viewpoints.

Updated at 5:19 p.m. ET

Nearly 3 million people filed for unemployment benefits last week — bringing the total to 36.5 million in the past eight weeks, the Labor Department said Thursday.

The number of people filing claims has been steadily dropping for weeks, since hitting nearly 7 million during one week in March. Still, claims remain at historically high levels, suggesting that the coronavirus isn't done pummeling the U.S. economy.

Updated at 8:46 a.m. ET

The number of people forced out of work during the coronavirus lockdown continues to soar to historic highs. Another 4.4 million people claimed unemployment benefits last week around the country, the Labor Department said.

That brings the total of jobless claims in just five weeks to more than 26 million people. That's more than all the jobs added in the past 10 years since the Great Recession.

Updated at 10 a.m. ET

The number of people seeking unemployment benefits shot up again last week, as 6.6 million more people filed initial claims, the Labor Department said Thursday. About 16.8 million have filed in the past three weeks, and analysts expect the numbers to keep rising.

In the prior week, ending March 28, a revised 6.9 million people filed first-time claims.

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