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Stocks Inch Higher as Wall Street’s Turmoil Continues Stocks Inch Higher as Wall Street’s Turmoil Continues
(6 days later)
This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here.This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here.
Stocks ended slightly higher on Thursday, after a volatile session, as investors weighed fresh evidence of a sharp economic decline against efforts in the United States and Europe to offset the damage.Stocks ended slightly higher on Thursday, after a volatile session, as investors weighed fresh evidence of a sharp economic decline against efforts in the United States and Europe to offset the damage.
By the end of the day, which had started with a sharp drop on Wall Street, the S&P 500 rose by less than 1 percent, and shares in Europe also scratched out small gains. Oil prices, which had collapsed by more than 20 percent on Wednesday, sharply rebounded.By the end of the day, which had started with a sharp drop on Wall Street, the S&P 500 rose by less than 1 percent, and shares in Europe also scratched out small gains. Oil prices, which had collapsed by more than 20 percent on Wednesday, sharply rebounded.
Markets in Asia-Pacific showed a little more optimism on Friday morning. Stocks in Sydney, Australia; Hong Kong; Seoul, South Korea and Taiwan were all trading up 3 percent or higher. In Tokyo, the market was down 1 percent in early morning trading.Markets in Asia-Pacific showed a little more optimism on Friday morning. Stocks in Sydney, Australia; Hong Kong; Seoul, South Korea and Taiwan were all trading up 3 percent or higher. In Tokyo, the market was down 1 percent in early morning trading.
The uneven trading came as the steady drumbeat of bad news about the spread of the coronavirus, and its impact on the economy, continued.The uneven trading came as the steady drumbeat of bad news about the spread of the coronavirus, and its impact on the economy, continued.
In the United States, the number of workers filing first-time claims for unemployment insurance surged, government data released on Thursday showed. Those figures do not reflect the sharp cuts made in the past few days as companies quickly scale down operations. And a survey of manufacturers by the Federal Reserve Bank of Philadelphia showed a sudden drop off in activity.In the United States, the number of workers filing first-time claims for unemployment insurance surged, government data released on Thursday showed. Those figures do not reflect the sharp cuts made in the past few days as companies quickly scale down operations. And a survey of manufacturers by the Federal Reserve Bank of Philadelphia showed a sudden drop off in activity.
Economists in recent days have made increasingly dire predictions about the likely damage to the job market, with many predicting that the unemployment rate would quickly surpass the 10 percent level it hit in the worst of the last recession.Economists in recent days have made increasingly dire predictions about the likely damage to the job market, with many predicting that the unemployment rate would quickly surpass the 10 percent level it hit in the worst of the last recession.
“This is a body blow to the economy unlike anything we’ve experienced in recent memory,” said Patrick Anderson, an economist in East Lansing, Mich. “Even the Great Recession did not include shuttering of businesses by government order at the same time that people were being told to say home and distance themselves.”“This is a body blow to the economy unlike anything we’ve experienced in recent memory,” said Patrick Anderson, an economist in East Lansing, Mich. “Even the Great Recession did not include shuttering of businesses by government order at the same time that people were being told to say home and distance themselves.”
Overnight, the European Central Bank unveiled a huge bond-buying program aimed at preventing economic calamity, and the Fed presented a plan to support money market funds, which are threatened when there is a rush for cash. U.S. officials made progress on passage of stimulus efforts to keep the American economy running. The Bank of England on Thursday announced that it would reduce its benchmark interest rate to 0.1 percent and increase its buying of British government bonds and corporate bonds.Overnight, the European Central Bank unveiled a huge bond-buying program aimed at preventing economic calamity, and the Fed presented a plan to support money market funds, which are threatened when there is a rush for cash. U.S. officials made progress on passage of stimulus efforts to keep the American economy running. The Bank of England on Thursday announced that it would reduce its benchmark interest rate to 0.1 percent and increase its buying of British government bonds and corporate bonds.
On Thursday, Treasury Secretary Steven Mnuchin said that the White House’s economic relief plan included sending checks of $1,000 for every American adult and $500 per child within three weeks. If the crisis continues, the plan would be to send checks of the same amounts again in May.On Thursday, Treasury Secretary Steven Mnuchin said that the White House’s economic relief plan included sending checks of $1,000 for every American adult and $500 per child within three weeks. If the crisis continues, the plan would be to send checks of the same amounts again in May.
But news of efforts to bolster the economy has been matched by a sharp escalation in the number of coronavirus cases in Europe and the United States, and fresh evidence of the impact on businesses. On Thursday, Ford Motor said that it would suspend its dividend payment and draw down about $15 billion from two lines of credit to help offset the impact of coronavirus-related production shutdowns, becoming the latest company to take such measures to cushion itself.But news of efforts to bolster the economy has been matched by a sharp escalation in the number of coronavirus cases in Europe and the United States, and fresh evidence of the impact on businesses. On Thursday, Ford Motor said that it would suspend its dividend payment and draw down about $15 billion from two lines of credit to help offset the impact of coronavirus-related production shutdowns, becoming the latest company to take such measures to cushion itself.
Tesla, the luxury electric carmaker, said on Thursday that it would temporarily shut down production at its factory in the San Francisco Bay Area starting Monday.Tesla, the luxury electric carmaker, said on Thursday that it would temporarily shut down production at its factory in the San Francisco Bay Area starting Monday.
The company was under increasing pressure from local government officials and workers in recent days to stop making cars. Much of the Bay Area, including Tesla’s factory in Fremont, are under orders to shelter in place.The company was under increasing pressure from local government officials and workers in recent days to stop making cars. Much of the Bay Area, including Tesla’s factory in Fremont, are under orders to shelter in place.
Earlier on Thursday, Kimberly Petersen, the chief of the Fremont Police Department, and other city officials had planned to meet with Tesla management to discuss compliance with an order by Alameda County limiting the operations of nonessential businesses, the department said on Twitter.Earlier on Thursday, Kimberly Petersen, the chief of the Fremont Police Department, and other city officials had planned to meet with Tesla management to discuss compliance with an order by Alameda County limiting the operations of nonessential businesses, the department said on Twitter.
Airbnb, the home rental start-up, has been holding talks with investors about new funding as the spread of the coronavirus ravages its business ahead of its planned initial public offering.Airbnb, the home rental start-up, has been holding talks with investors about new funding as the spread of the coronavirus ravages its business ahead of its planned initial public offering.
The company, which is based in San Francisco, is valued at $31 billion by private investors. It began fielding unsolicited offers last week from venture capital firms, private equity firms and sovereign wealth funds, according to a person familiar with the situation. Offers have ranged from $100 million to $1 billion, the person said. Valuations have not yet been discussed.The company, which is based in San Francisco, is valued at $31 billion by private investors. It began fielding unsolicited offers last week from venture capital firms, private equity firms and sovereign wealth funds, according to a person familiar with the situation. Offers have ranged from $100 million to $1 billion, the person said. Valuations have not yet been discussed.
The deal talks were first reported by CNBC.The deal talks were first reported by CNBC.
Airbnb has not decided whether it will raise more funding, which could be used to snap up smaller competitors that are struggling amid the industry downturn, the person said. The company has $3 billion in cash on its balance sheet and access to another $1 billion line of credit.Airbnb has not decided whether it will raise more funding, which could be used to snap up smaller competitors that are struggling amid the industry downturn, the person said. The company has $3 billion in cash on its balance sheet and access to another $1 billion line of credit.
In the past, Airbnb has turned a profit on its operations, unlike many of the cash-burning start-ups that went public last year and saw their stock prices fall as they struggled to make money. But the coronavirus has ground tourism to a halt in many parts of the world, putting Airbnb in a difficult position.In the past, Airbnb has turned a profit on its operations, unlike many of the cash-burning start-ups that went public last year and saw their stock prices fall as they struggled to make money. But the coronavirus has ground tourism to a halt in many parts of the world, putting Airbnb in a difficult position.
The company matches home rental operators with guests and takes a fee on the transaction. It recently announced that any guests wishing to cancel would get a full refund on their booking, providing relief to travelers but prompting ire from rental operators who rely on the income. In China, Airbnb established a $10 million fund to support its hosts.The company matches home rental operators with guests and takes a fee on the transaction. It recently announced that any guests wishing to cancel would get a full refund on their booking, providing relief to travelers but prompting ire from rental operators who rely on the income. In China, Airbnb established a $10 million fund to support its hosts.
On Tuesday Airbnb asked Congress for relief measures including low-interest loans for its rental operators.On Tuesday Airbnb asked Congress for relief measures including low-interest loans for its rental operators.
Airbnb is under pressure to go public before some of its early employees shares begin to expire later this year. Last fall, it announced it would go public in 2020. It has retained Morgan Stanley and Goldman Sachs to advise on the deal.Airbnb is under pressure to go public before some of its early employees shares begin to expire later this year. Last fall, it announced it would go public in 2020. It has retained Morgan Stanley and Goldman Sachs to advise on the deal.
Layoffs rose sharply last week as the effects of the coronavirus pandemic began to ripple through the economy. Some 281,000 Americans filed first-time claims for unemployment insurance, up by 33 percent from 211,000 the week before, the Labor Department said Thursday. On a percentage basis, the increase was among the largest one-week surges on record.Layoffs rose sharply last week as the effects of the coronavirus pandemic began to ripple through the economy. Some 281,000 Americans filed first-time claims for unemployment insurance, up by 33 percent from 211,000 the week before, the Labor Department said Thursday. On a percentage basis, the increase was among the largest one-week surges on record.
The Labor Department said the increase was “clearly attributable to impacts from the Covid-19 virus” and noted that many states reported a rise in jobless claims from workers in food services, accommodation and travel.The Labor Department said the increase was “clearly attributable to impacts from the Covid-19 virus” and noted that many states reported a rise in jobless claims from workers in food services, accommodation and travel.
Updated June 16, 2020 Updated June 22, 2020
A commentary published this month on the website of the British Journal of Sports Medicine points out that covering your face during exercise “comes with issues of potential breathing restriction and discomfort” and requires “balancing benefits versus possible adverse events.” Masks do alter exercise, says Cedric X. Bryant, the president and chief science officer of the American Council on Exercise, a nonprofit organization that funds exercise research and certifies fitness professionals. “In my personal experience,” he says, “heart rates are higher at the same relative intensity when you wear a mask.” Some people also could experience lightheadedness during familiar workouts while masked, says Len Kravitz, a professor of exercise science at the University of New Mexico.
The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.The steroid, dexamethasone, is the first treatment shown to reduce mortality in severely ill patients, according to scientists in Britain. The drug appears to reduce inflammation caused by the immune system, protecting the tissues. In the study, dexamethasone reduced deaths of patients on ventilators by one-third, and deaths of patients on oxygen by one-fifth.
The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.The coronavirus emergency relief package gives many American workers paid leave if they need to take time off because of the virus. It gives qualified workers two weeks of paid sick leave if they are ill, quarantined or seeking diagnosis or preventive care for coronavirus, or if they are caring for sick family members. It gives 12 weeks of paid leave to people caring for children whose schools are closed or whose child care provider is unavailable because of the coronavirus. It is the first time the United States has had widespread federally mandated paid leave, and includes people who don’t typically get such benefits, like part-time and gig economy workers. But the measure excludes at least half of private-sector workers, including those at the country’s largest employers, and gives small employers significant leeway to deny leave.
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
Still, the data released Thursday was for claims filed from March 8-14, before the outbreak began to shut down restaurants, bars and retail stores in much of the country. The next report, which will reflect the first wave of closings, will almost certainly be much worse.Still, the data released Thursday was for claims filed from March 8-14, before the outbreak began to shut down restaurants, bars and retail stores in much of the country. The next report, which will reflect the first wave of closings, will almost certainly be much worse.
On Thursday, Kohl’s and TJX, the owner of T.J. Maxx, Marshalls and Home Goods, decided to follow many major retail chains in temporarily closing stores after initially resisting the move. Kohl’s said it would close its stores nationwide on Thursday at 7 p.m. “through at least April 1.” TJX said on its website that it would close its stores globally, along with its online businesses, for two weeks.On Thursday, Kohl’s and TJX, the owner of T.J. Maxx, Marshalls and Home Goods, decided to follow many major retail chains in temporarily closing stores after initially resisting the move. Kohl’s said it would close its stores nationwide on Thursday at 7 p.m. “through at least April 1.” TJX said on its website that it would close its stores globally, along with its online businesses, for two weeks.
Simon Property Group, America’s biggest mall operator, and Taubman Centers, which oversees malls including the Mall at Short Hills in New Jersey, announced temporary closures on Wednesday and Thursday as well.Simon Property Group, America’s biggest mall operator, and Taubman Centers, which oversees malls including the Mall at Short Hills in New Jersey, announced temporary closures on Wednesday and Thursday as well.
Employees for retail chains that sell nonessential goods have been expressing fear about their commutes and working in stores while the coronavirus spreads. Some chains like GameStop and Starbucks remained open as of Thursday afternoon.Employees for retail chains that sell nonessential goods have been expressing fear about their commutes and working in stores while the coronavirus spreads. Some chains like GameStop and Starbucks remained open as of Thursday afternoon.
With its largest division (theme parks and consumer products) essentially closed, its movie and television studios idled and its ESPN operation with no live sports to broadcast, the Walt Disney Company’s market capitalization has fallen by about $57 billion over the last month.With its largest division (theme parks and consumer products) essentially closed, its movie and television studios idled and its ESPN operation with no live sports to broadcast, the Walt Disney Company’s market capitalization has fallen by about $57 billion over the last month.
Disney, which has a new chief executive, said in a regulatory filing on Thursday that it had become “challenging” to estimate future performance for various divisions.Disney, which has a new chief executive, said in a regulatory filing on Thursday that it had become “challenging” to estimate future performance for various divisions.
Disney’s primary competitors have also been in free fall. But those giants have more diversified holdings. Comcast, with its internet and cable hookup unit offsetting its NBCUniversal movie and theme park division, has shed about $30 billion in value over the last month. AT&T, which owns WarnerMedia, home to HBO, TNT, TBS, CNN and Warner Bros., is down by about $41 billion.Disney’s primary competitors have also been in free fall. But those giants have more diversified holdings. Comcast, with its internet and cable hookup unit offsetting its NBCUniversal movie and theme park division, has shed about $30 billion in value over the last month. AT&T, which owns WarnerMedia, home to HBO, TNT, TBS, CNN and Warner Bros., is down by about $41 billion.
Walmart announced plans to give a cash bonus to all of its U.S. hourly workers. The bonus will be $300 for full-time workers and $150 for part-timers and will total more than $365 million. The retailer also said it would hire 150,000 workers through the end of May to work in stores, clubs, distribution centers and fulfillment centers.Walmart announced plans to give a cash bonus to all of its U.S. hourly workers. The bonus will be $300 for full-time workers and $150 for part-timers and will total more than $365 million. The retailer also said it would hire 150,000 workers through the end of May to work in stores, clubs, distribution centers and fulfillment centers.
Nikki Haley, the former U.N. ambassador, resigned from the board of Boeing, the company said in a regulatory filing on Thursday. “I cannot support a move to lean on the federal government for a stimulus or bailout,” Ms. Haley said in a letter to the board.Nikki Haley, the former U.N. ambassador, resigned from the board of Boeing, the company said in a regulatory filing on Thursday. “I cannot support a move to lean on the federal government for a stimulus or bailout,” Ms. Haley said in a letter to the board.
Domino’s Pizza announced on Monday that it would hire 1,000 workers in the greater Chicago area — delivery drivers, customer service representatives and managers — to meet an increased demand for deliveries.Domino’s Pizza announced on Monday that it would hire 1,000 workers in the greater Chicago area — delivery drivers, customer service representatives and managers — to meet an increased demand for deliveries.
Uber rides fell by 45 percent from the previous year in Hong Kong at the height of the outbreak there, while in Seattle rides were down by 60 to 70 percent, the company said.Uber rides fell by 45 percent from the previous year in Hong Kong at the height of the outbreak there, while in Seattle rides were down by 60 to 70 percent, the company said.
Reporting and research were contributed by Erin Griffith, Sapna Maheshwari, Ben Casselman, Conor Dougherty, Emily Flitter, Isabella Kwai, Jack Ewing, Brooks Barnes, Niraj Chokshi, Neal E. Boudette, Carlos Tejada, Kate Conger, Jason Karaian, Amie Tsang, Heather Murphy, Matt Phillips, Jeanna Smialek, Jim Tankersley, Mohammed Hadi and Katie Robertson.Reporting and research were contributed by Erin Griffith, Sapna Maheshwari, Ben Casselman, Conor Dougherty, Emily Flitter, Isabella Kwai, Jack Ewing, Brooks Barnes, Niraj Chokshi, Neal E. Boudette, Carlos Tejada, Kate Conger, Jason Karaian, Amie Tsang, Heather Murphy, Matt Phillips, Jeanna Smialek, Jim Tankersley, Mohammed Hadi and Katie Robertson.