Panic grocery buying slows; iPhone sales plummeted in March

April 9, 2020 –The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Thursday related to the global economy, the work place and the spread of the virus.

GLOBAL SHOCK: There is no place on earth inhabited by humans that is not being hit by the economic shock of the pandemic. The U.S. rolled out a $2.3 trillion plan to stabilize the economy Thursday.

— Oxfam is warning half a billion people in the developing world could be pushed into poverty. In a report based on research at King’s College London and the Australian National University, Oxfam is calling for the immediate cancellation of $1 trillion in debt payments due from developing countries this year.

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