Stadtratte/iStockBy CATHERINE THORBECKE, ABC News
(WASHINGTON) — Real gross domestic product (GDP) plunged by a record annual rate of 32.9% last quarter, according to government data released Thursday.
The figure reflects how the coronavirus pandemic has clobbered the U.S. economy with unprecedented speed and furor as it shut down much of the economy over the past few months. For comparison, real GDP decreased by 5% in the first quarter of 2020.
Copyright © 2020, ABC Audio. All rights reserved.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City. (Photo by Spencer Platt/Getty Images) (NEW YORK) — The Dow Jones Industrial Average plummeted more than 650 points in early trading
Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Jan. 28, 2026. (Photographer: Kent Nishimura/Bloomberg via Getty Images) (NEW
Job applicant with resume (Narisara Nami/Getty Images) (NEW YORK) — The U.S. economy lost jobs in February, marking a major reversal of fortunes for the labor market and nearly erasing all of the job gains delivered a
Traders work on the floor of the New York Stock Exchange during morning trading on February 24, 2026 in New York City. (Michael M. Santiago/Getty Images) (NEW YORK) — The Dow Jones Industrial Average plunged 900 points
Photo of Wall Street (Matteo Colombo/Getty Images) (NEW YORK) — The Dow Jones Industrial Average plunged more than 1,000 points in early trading on Tuesday as the ongoing U.S.-Israeli war with Iran prompted a major selloff. The
