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Roughly 1.8 million residents struggling with unemployment due to the coronavirus pandemic have filed claims, roughly six times the number of claims filed during the 2008 financial crisis, officials said.

Powell noted the unprecedented strength of fiscal and monetary measures already taken but stressed the need to make sure that the deepest slump since the Great Depression does not get out of control.

There are more than 100 vaccines in development globally as of April 30 with at least eight vaccine candidates already in human trials.

Check out the companies making headlines in midday trading.

Amazon has struggled to balance demand for essential and nonessential goods at its warehouses during the pandemic.

Some industry experts are seeing signs that at least some travelers — in particular, wealthier ones — expect to start going on vacation again during the year-end holiday season. And those willing to fly are headed to warm-weather spots overseas, it seems.

If you have an emergency fund, now's the time to tap it. People who have lost their jobs are turning to savings to supplement their income, according to Bankrate.com. But how long will the pot of money last?

"Without clear planning and implementation of the steps that I and other experts have outlined, 2020 will be darkest winter in modern history," Bright says in written congressional testimony.

The number of news cases of PMIS in the city rose by 30 from the day before. Doctors are increasingly recognizing the symptoms in more children after the illness came to light in the U.K. late last month.

Brian Huseman, Amazon's vice president of public policy, said the company 'stands ready' to work with Congress.

One options trader cashed out to the tune of $11 million after betting on biotech to surge. Now, they're wagering on an even bigger breakout.

While lawmakers proposed several plans to give essential workers hazard pay during the coronavirus pandemic, none seem close to becoming law.

Shanghai Disneyland may have been able to reopen, but Disney could be on track to lose around $1 billion in earnings before interest and taxes each month from the rest of its parks being closed due to the coronavirus pandemic.

Many aspects of the new House $3 trillion coronavirus relief bill are not designed to get the economy moving again, Sen. Rob Portman told CNBC on Wednesday.

The health care company Haven is designed to provide health care to 1.2 million workers across the three companies.

Conde Nast is the latest among a slew of publishers that have been affected by a decrease in advertising revenue brought on by Covid-19.

Five percent to 10% of pre-Covid-19 demand could be decimated permanently, as "lost store volume can't entirely be made up online," Wells Fargo retail analyst Ike Boruchow said.

Mobile payment apps are convenient and easy to use, but may pose a scam threat to unsuspecting Americans amid the coronavirus pandemic, according to AARP.

The hackers have been caught attempting to "identify and illicitly obtain valuable intellectual property" and public-health data related to coronavirus research, according to the U.S. government.

New York Gov. Andrew Cuomo is holding his daily press conference on the Covid-19 outbreak, which has infected more than 338,400 people across the state as of Wednesday.