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The COVID-19 pandemic caused far-reaching economic consequences [1] including the COVID-19 recession, the second largest global recession in recent history, [2] decreased business in the services sector during the COVID-19 lockdowns, [3] the 2020 stock market crash (which included the largest single-week stock market decline since the financial ...
The economic impact of the COVID-19 pandemic in the United States has been widely disruptive, adversely affecting travel, financial markets, employment, shipping, and other industries. The impacts can be attributed not just to government intervention to contain the virus (including at the Federal and State level), but also to consumer and ...
The COVID-19 pandemic was a pandemic of Coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2); the outbreak was identified in Wuhan, China, in December 2019, declared to be a Public Health Emergency of International Concern from 30 January 2020 to 5 May 2023, and recognized as a pandemic by ...
As of 2023, the COVID-19 pandemic is an ongoing global pandemic of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS CoV‑2). Its effect has been broad, affecting general society, the global economy, culture, ecology, politics, and other areas.
Economic turmoil associated with the COVID-19 pandemic has had wide-ranging and severe impacts upon financial markets, including stock, bond, and commodity (including crude oil and gold) markets. Major events included a described Russia–Saudi Arabia oil price war , which after failing to reach an OPEC+ agreement resulted in a collapse of ...
The COVID-19 recession was a major global economic crisis which has caused both a recession in some nations, and in others a depression. It is currently the worst global economic crisis in history, surpassing the impact of the Great Depression. The economic crisis began due to the economic consequences of the ongoing COVID-19 pandemic.
In 2019, the Global Preparedness Monitoring Board reported the WHO's pandemic emergency fund remained was depleted by the 2018–19 Kivu Ebola pandemics. [11] As COVID-19 spread in January 2020, China began blocking exports of various medical supplies, including N95 masks, booties, and gloves produced by factories on its territory. [15]
During 2020 and 2021, the U.S. Congress passed major stimulus packages as part of an aggressive effort to fight both the pandemic and its economic impact. Three major bills were passed: the CARES Act, the Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 2021.