Asian Markets Mixed After Wall Street’s Swoon: Live Updates

There was one other nasty dip along the way: In late 2018, investors grew increasingly worried about Mr. Trump’s trade war with China and the prospect that the Federal Reserve would raise interest rates.

Stocks climbed 28.9 percent last year, thanks largely to the Fed’s decision to reverse course. But that rally has unraveled in the past month.

Though stocks have now given up most of their gains since the president was elected, the SP 500 would have to fall another 12 percent for the entire Trump bump to be erased.

Food distributor plans to hire displaced workers.

Companies that power the supply chain are taking steps to make sure food keeps flowing to Americans in the coming weeks and months.

United Natural Foods Inc., one of the nation’s largest distributors of food to supermarkets, is planning to hire potentially thousands of out-of-work warehouse workers to staff in its 59 distribution centers, the company’s chief executive, Steven L. Spinner, said.

The distributor has been crushed by demand from grocery stores, but other food distributors like US Foods and Sysco, which supply restaurants and schools, are likely to experience significant layoffs as cities and states shut down public places.

UNFI, as the company is known, is making plans to hire the displaced workers to help relieve its employees, many of whom have been working 60 to 70 hour a week to keep up with the panic buying in supermarkets across the country. The hiring could take place as soon as next week.

Article source: https://www.nytimes.com/2020/03/17/business/stock-market-today.html