NewsWatch: Dow stumbles 200 points as Fed’s Powell says scope of coronavirus crisis ‘without modern precedent’

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MARKETWATCH FRONT PAGE

U.S. stock benchmarks trade lower Wednesday morning as Federal Reserve Chairman Jerome Powell offers an uncertain near-term outlook of the economy, with state and federal officials attempting to restart businesses from a coronavirus-induced lockdown. See full story.

House Democrats roll out $3 trillion coronavirus relief bill, eyeing a vote by the end of this week

House Democrats unveiled their opening bid Tuesday in the next debate on Capitol Hill over how to fight the coronavirus and revive the economy, a sweeping bill set to be voted at the end of the week. See full story.

Dr. Anthony Fauci responds to rebuke by Rand Paul: ‘I give advice according to the best scientific evidence’

Fauci was challenged by Paul, a Kentucky Republican who had been a vocal advocate of reopening businesses now. See full story.

U.S. wholesale prices sink 1.3% as coronavirus triggers broad collapse in demand

The wholesale cost of U.S. goods and services sank 1.3% in April — the largest decline on record — as the coronavirus bore down on the economy and cratered demand. See full story.

Uber plus Grubhub called ‘a new low in pandemic profiteering,’ and that’s not the only problem

Uber Technologies Inc.’s discussions with Grubhub Inc. were called a “new low in pandemic profiteering” by one congressman on Tuesday, and that’s just one potential issue that could thwart a potential merger between the two food delivery companies. See full story.

MARKETWATCH PERSONAL FINANCE

‘Yes, there are people who have skirted their responsibilities, but I paid as much as I could, sometimes working 2 to 3 jobs.’ See full story.

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