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New York City Mayor Bill de Blasio sounded the alarm again on the city’s budget and hinted at first-responder layoffs as a result of the coronavirus pandemic.
The city has been the epicenter of the health emergency in the U.S., with more than 190,000 coronavirus cases and at least 14,000 deaths, according to health officials.
With most businesses shut, tax revenues have plummeted accordingly. A month ago de Blasio warned that some $2 billion in municipal services could be slashed over the next year, from garbage pickups to the frequency of Staten Island Ferry services
24,996 in U.S.Most new cases today
-17% Change in MSCI World Index of global stocks since Wuhan lockdown, Jan. 23
-1.09 Change in U.S. treasury bond yield since Wuhan lockdown, Jan. 23
-4.8% Global GDP Tracker (annualized), April