Dow dives 2,997 points on fears virus will cause recession
Even for a market beset by volatility in recent weeks, the losses were staggering. The 12.9% drop in the Dow was its worst since 1987. The S&P 500 and the NASDAQ also dropped 12%.
Latest News
Articles
Partnership aims to preserve Indiana African American sites
A new partnership financed by memorial funds endowed by Eli Lilly and Co.’s first black chemist has set its sights on preserving some of Indiana’s significant African American landmarks.
In ‘devastating’ decision, IRT cancels final three productions of season
The decision follows new guidance for public gatherings from the Centers for Disease Control and Prevention that on Monday was adopted by both the city of Indianapolis and the state of Indiana.
Rescheduling Indy 500 would be difficult; canceling it could doom race teams
The IndyCar Series—and the city of Indianapolis—would take a devastating hit if the Indianapolis 500 was canceled this year. Officials are looking at contingency plans for holding the race this summer or fall if the fallout from the pandemic extends beyond May.
Hogsett closes gyms, entertainment venues and nightclubs—and warns against local travel
The order will be in effect for at least seven days. Hogsett plans to seek permission from the Indianapolis City-County Council on Monday night to extend the order to April 5.
Restaurateur understands Holcomb eatery restrictions, says ‘people aren’t heeding the warnings’
Ed Rudisell, owner of several downtown restaurants hurt by the COVID-19 outbreak, said he wasn’t surprised by the Governor’s decision on Monday to limit service for all eateries to takeout and delivery.
U.S. surgeon general on virus: ‘Every chance that we could be Italy’
Two weeks ago, Italy had 1,700 cases of coronavirus and had reported 34 deaths. Now, Italy is reporting an estimated 25,000 cases and more than 1,800 deaths.
Human testing on possible coronavirus vaccine gets underway in Seattle
Monday’s milestone marked just the beginning of a series of studies in people needed to prove whether the shots are safe and could work. Even if the research goes well, a vaccine wouldn’t be available for widespread use for 12 to 18 months, officials say.
Stocks take another deep plunge as more businesses shut doors
The selling began immediately on Wall Street, and losses were sharp enough at the open to trigger a temporary trading halt for the third time in the last two weeks.
Cheap fares luring travelers to fly despite pandemic
Airlines are seeing bookings plummet and cancellations soar as fear of infection causes many Americans to avoid flying. That’s leading to drastically reduced ticket prices.
Indiana unemployment dipped to 3.1% in January
In a snapshot of the state’s workforce from January, private employment grew in the transportation, hospitality, education and health sectors while declining in manufacturing.
IBJ Podcast: Pete the Planner talks about the virus, the impact on the economy and what to think about your portfolio
Peter Dunn talks with podcast host Mason King about what people can do to prepare for what he believes will soon be a recession. The goal, he said, is to “get lean.”
United Airlines to cut capacity by 50%, warns cuts could last until summer
United said Sunday night it expects planes to be only 20% to 30% full at best, down from nearly 90% before the virus hit. The airline said the cuts could extend into the peak summer travel season.
CDC’s latest guidance could mean no sports for much longer
The already-delayed professional sports seasons in North America could be on hiatus for significantly longer than first planned after federal officials said Sunday that they recommend all in-person events involving 50 people or more be called off for the next eight weeks.
Indiana school closures remain optional as other states order students home
More than 200 of Indiana’s nearly 300 districts have closed after consultations with local health officials. But, in at least 21 states, officials have ordered closures to try to stop spread of COVID-19.
Stock futures sink after rate cut, new virus restrictions
Stocks are set for more turbulence following a dizzying week that saw the Dow twice fall by more than 2,000 points and also record it’s biggest point gain ever—1,985 points on Friday.
Area hospitals restrict elective surgeries to prep for possible influx of virus patients
Ascension St. Vincent, Community Health and Franciscan Health have confirmed plans to restrict elective procedures to shore up critical supplies and keep the virus from spreading.
Federal officials recommend gatherings of less than 50, announce new testing options
The Trump administration announced Sunday that some of the most vulnerable Americans will be able to get tested for the coronavirus from cars starting this week—a less ambitious program than the swift nationwide testing campaign President Trump promised Friday.
Fed slashes rate to near zero, eases lending rules
The central bank said the effects of the outbreak will weigh on economic activity in the near term and pose risks to the economic outlook.
Two neighboring states order bars, restaurants to close
Pickup orders and deliveries will still be permitted, but dining rooms must shut to try to slow spread of COVID-19.