Stocks are pulling back on Wall Street as more grim news piles up about the economic damage caused the coronavirus outbreakBy STAN CHOE AP Business WriterApril 30, 2020, 3:29 PM5 min readNEW YORK — Wall Street pulled back on Thursday after more reports made clear the worldwide devastation the coronavirus outbreak is causing for the economy. In the United States, another 3.8 million workers filed for unemployment benefits last week as layoffs continue to hammer the country. In Europe, the region’s economy crumpled by the sharpest degree in at least 25 years. The dour figures helped drive most U.S. stocks to losses, and the S&P 500 was down 1.3% at one point, though it quickly halved the loss on strength for Facebook and a handful of other big companies that reported encouraging results. Treasury yields were also lower, while European stocks fell more sharply, slamming the brakes on a strong rally that had circled the world a day earlier. “This is the saddest day for the global economy we have ever seen” in the 50 years that economists at High Frequency Economics have been following economic data, they wrote in a report. “The statistical offices of the economies we watch


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