Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

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

Zarroli graduated from Pennsylvania State University.

The turmoil on Wall Street showed no signs of letting up today, as fears about the slowing global economy once again sent oil and stock prices tumbling.

The Dow Jones industrial average was down more than 500 points, a drop of 3.5 percent, at a little after noon ET, though it later rebounded somewhat and ended the day down 249 points. Meanwhile, oil fell below $27 a barrel, a 12-year low.

The International Monetary Fund has once again pared its forecast for global growth, warning that emerging markets face steeper economic challenges in the year to come.

A report issued today says world economic output will grow by 3.4 percent in 2016 and 3.6 percent next year, a decline of 0.2 percent from the agency's previous forecast, in October.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Goldman Sachs will pay about $5 billion to resolve state and federal investigations into its handling of mortgage-backed securities in the years leading up to the 2008 financial crisis, the bank said today.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

ARI SHAPIRO, HOST:

Markets tumbled today, hard. It's a continuation of a recent rough patch on Wall Street. Already this year, both the Dow and the S&P are down more than 7 percent. NPR's Jim Zarroli joins us now to discuss the sour mood among investors. Hey, Jim

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