Economy

Follow coverage of the U.S. and global economy, jobs and unemployment; banking; interest rates and other decisions by the Federal Reserve (Fed) and Chair; and economic indicators such as the gross domestic product (GDP), factory orders and durable goods. Other topics include the federal budget deficit and national debt, and local economic columnist Jon Talton.

Economists see growing recession risk as coronavirus spreads

Stock prices are monitored at the New York Stock Exchange, Wednesday, Feb. 26, 2020. (AP Photo/Mark Lennihan) NYML109

Economists say the stock market sell-off in recent days reflects a reassessment of the likely magnitude of the hit to corporate earnings in the virus’s wake, suggesting the economic pain could last longer and the recovery may not be as swift as initially thought.

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In this Friday, Jan. 4, 2019, photo a sign is displayed outside a house for sale in Pittsburgh’s Lawrenceville neighborhood. Freddie Mac, the mortgage company, on Thursday, Jan. 10, releases weekly mortgage rates. (AP Photo/Keith Srakocic)

US home sales fell 1.3% in January

WASHINGTON (AP) — U.S. home sales retreated 1.3% in January from the prior month, but low mortgage rates helped enable an increase in purchases from...