Jim Zarroli

Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.

Over the years, he has reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders, and Ponzi schemers. Most recently, he has focused on trade and the job market. He also worked as part of a team covering President Trump's business interests.

Before moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position, he reported from the United Nations and was also involved in NPR's coverage of Hurricane Katrina, the London transit bombings, and the Fukushima earthquake.

Before joining NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

He lives in Manhattan, loves to read, and is a devoted (but not at all fast) runner.

Zarroli grew up in Wilmington, Delaware, in a family of six kids and graduated from Pennsylvania State University.

Ruby Jensen was living in a rented room in a Los Angeles house in June, when her landlady sent her a text that would upend her life.

Unhappy about the condition of the house, the landlady wanted Jensen and every other tenant to leave immediately. She was moving relatives back in, the text said.

Even in normal times, eviction requests have to proceed through the court system in California, said housing attorney Aimee Williams of the Castelblanco Law Group.

Americans tend to think World War II ended cleanly and neatly, with a raucous celebration in Times Square, followed by a pivot to the Cold War. The truth, needless to say, was more complex.

In Europe, the end of the war brought chaos, not closure, with hundreds of thousands of refugees filling the roads, hoping to return to homes that, in many cases, no longer existed.

Citigroup named retail banking head Jane Fraser as its next chief executive, making her the first woman ever to head a major U.S. bank.

Fraser will replace Michael Corbat, who unexpectedly announced his retirement after eight years on the job. He will leave the bank in February

"I am honored by the Board's decision and grateful to Mike for his leadership and support," Fraser said in a statement.

Updated at 5:02 p.m. ET

Stocks slid for the third session in a row as technology shares lost more ground and a steep drop in oil prices hit energy shares.

The Dow Jones Industrial Average slumped 632 points, or 2.25%, while the S&P 500 fell 2.8%.

The Nasdaq composite index retreated 4.1% and entered correction territory after falling more than 10% from last week's high.

Updated at 4:37 p.m. ET

Federal Reserve Chairman Jerome Powell said the pace of jobs growth is rising faster than many people expected, but it may take years before the economy has fully recovered.

Updated at 5:12 p.m. ET

Stocks experienced their worst day since June, with a sudden plunge Thursday in big tech shares such as Apple and Amazon driving the S&P 500 index down 3.5% and the Dow Jones Industrial Average down 2.8%.

The dizzying drop in prices follows a string of record-high trading days, largely fueled by a few superstar tech stocks, such as Facebook, Apple and Amazon.

On election night 2016, Gretchen Sisson was so sure Hillary Clinton would defeat Donald Trump that she and her husband invited 80 people to their San Francisco home for a party. They even had a giant sheet cake made that celebrated suffragists and the Equal Rights Amendment. On the side was written, "Madam President."

That's not how it turned out. Trump won in a stunning outcome, and no one could bear to eat. Afterward, Sisson and her family ended up eating the cake themselves for weeks. It was, she says now, a lesson in hubris.

Copyright 2020 NPR. To see more, visit https://www.npr.org.

RACHEL MARTIN, HOST:

When legendary investor Jack Bogle created the index fund in 1976, he saw it as a way to help ordinary Americans share in the riches of the entire U.S. stock market.

This year, index fund investors are making money all right. But it's come with some risks: Much of the gains are due to half a dozen ultra-hot technology stocks.

LEILA FADEL, HOST:

The economy may be limping along, but the stock market keeps hitting new highs. Yesterday, the S&P 500 broke the record it set on February 19. It's been great for people's retirement funds, and what's driving the market forward are a few big tech stocks. NPR's Jim Zarroli reports.

JIM ZARROLI, BYLINE: For years, it's been gospel for average investors. If you want to invest in stocks, make sure to diversify by lots of different kinds of companies. Lu Zhang is a professor of finance at The Ohio State University.

Pages