ADFor millions of workers, consumers and investors, the economy’s sudden stop comes as memories of the 2008 global financial crisis remain fresh. Less than 12 years ago, the economy sank into a painful recession after risky Wall Street investments tied to real estate went sour. Oil prices face a one-two punch. That flooded the market with oil and sent prices spiraling toward levels not seen since the late 1990s. Goldman Sachs predicts that nearly one-third of the oil and oil services companies in the country will vanish, acquired by rivals or driven out of business.

Source: Washington Post March 14, 2020 20:06 UTC