As COVID-19’s impact spread across the U.S. in March, the stock market declines hit investors hard, recovering only slightly in the final week of the month,a press release from the association reported, noting that massive layoffs also shook the economy with 3.28 million initial jobless claims filed in a single week—the highest in history more than four times over.
Real estate followed suit, hitting the Capital Region’s market hard as real estate professionals chartered a “new normal” to accommodate buyers and sellers through virtual listing, showing and closing processes, according to a report from the Greater Capital Association of Realtors.

Albany Med is among the first hospitals in the country to obtain Food and Drug Administration (FDA) approval to use convalescent blood plasma therapy to experimentally treat critically ill patients who are infected by the novel coronavirus (COVID-19).
Convalescent plasma therapy—or plasma from a survivor of an infectious disease—was the same treatment used during the 1918 flu pandemic.
When fighting illness, the body produces antibodies—proteins that counteract a pathogen. Antibodies remain in plasma for weeks or months after recovery. The antibodies in patients who have recovered from COVID-19 attack the virus and can potentially be useful as a treatment for the virus, Albany Med officials said.

The Retail Council of New York State has launched RetailNewYork.com, an online directory for independent Main Street merchants of all sorts from throughout the state.
“Their stores might be closed for now, but they’re open for online and phone orders and ready to ship right to your door,” said Council President and CEO Ted Potrikus. “We want to fill the site with contact information for stores of every sort. These are the Main Street merchants who need our support.”
“While we’re all waiting it out indoors, RetailNewYork is a great way to find your favorite stores and work out some retail therapy,” he said.

The American Hotel & Lodging Association (AHLA) has introduced Safe Stay, an industry-wide, enhanced standard of health and safety protocols designed to prepare America’s hotels to safely welcome back guests and employees as the economy reopens.
Safe Stay represents the top priority for the industry, the health and safety of guests and employees, officials said.
The standards of Safe Stay were developed under the guidance of an advisory council comprised of industry leaders representing all segments of the hotel industry, and in conjunction with public health experts to advance best practices for protecting against the coronavirus, AHLA said.

The Federal Reserve has expanded its $600 billion Main Street Lending Program to serve much smaller businesses.
The move comes after the Federal Reserve accepted more than 2,200 comments about the proposed lending program from people, businesses and nonprofits. The Fed has yet to set a start date, saying that will be “announced soon.”
The minimum loan amount under the program will now be $500,000 for new loans and priority loans, down from the originally proposed $1 million, opening up the program to smaller businesses. The “expanded” loan type will be a minimum of $10 million, designed for larger businesses.