Pandemic derails resilient US economy

The Hill logoThe coronavirus pandemic is the greatest challenge that the U.S. economy and financial system have faced in more than a decade.

As the U.S. braces for cases of the coronavirus to rise through the country, Americans are preparing to hunker down and withdraw from society in a bid to avoid infection — or at least buy time for a medical system that may be stretched beyond its limits.

Financial markets have suffered their worst losses since the 1987 stock market crash, wiping out nearly three years of gains and prompting crisis-level action from the Federal Reserve. Continue reading.