U.S. Markets closed
  • S&P 500

    3,453.49
    +17.93 (+0.52%)
     
  • Dow 30

    28,363.66
    +152.84 (+0.54%)
     
  • Nasdaq

    11,506.01
    +21.31 (+0.19%)
     
  • Russell 2000

    1,630.25
    +26.48 (+1.65%)
     
  • Crude Oil

    40.63
    -0.01 (-0.02%)
     
  • Gold

    1,907.50
    +2.90 (+0.15%)
     
  • Silver

    24.84
    +0.13 (+0.53%)
     
  • EUR/USD

    1.1826
    -0.0041 (-0.3430%)
     
  • 10-Yr Bond

    0.8480
    +0.0320 (+3.92%)
     
  • Vix

    28.11
    -0.54 (-1.88%)
     
  • GBP/USD

    1.3082
    -0.0061 (-0.4670%)
     
  • USD/JPY

    104.8600
    +0.3000 (+0.2869%)
     
  • BTC-USD

    13,148.78
    +2,091.77 (+18.92%)
     
  • CMC Crypto 200

    263.22
    +7.12 (+2.78%)
     
  • FTSE 100

    5,785.65
    +9.15 (+0.16%)
     
  • Nikkei 225

    23,474.27
    -92.73 (-0.39%)
     

Black and Latino families hit hardest financially by COVID-19

Yahoo Finance’s On the Move panel discuss a study that says Blacks and Latino Americans were hardest hit by the pandemic.

Video Transcript

ADAM SHAPIRO: We always turn to Anjalee with issues regarding COVID. There's a study-- it was NPR as well as, I believe, it was an offshoot of Johnson and Johnson, the Robert Wood Johnson Foundation, actually, and the Harvard TC Chan School of Public Health-- that did a study that looked at the impact of COVID on Black and Latino families. Anjalee, tell us more about this.

ANJALEE KHEMLANI: That's correct, Adam. So this actually is an interesting study. Because it extrapolates what we saw being a concern as well as looked into at the very start of the pandemic. And that is just what that income gap is, what the wealth gap looks like right now with a majority of Latino and African-American families with children suffering more when it comes to the financial impact of the coronavirus pandemic. And so when we're looking at sort of at-large, from the sample size about 6,000-- 60%, sorry, of the sample size of Americans saying that they have been negatively impacted, with more than 80% of African-American families saying the same. So clearly seeing that divide.

Early on in the outbreak, we saw a study from the urban institute showing that 25% to 35% of African-American and Latino families saying that they could not work from home, so sort of setting the stage for what we see right now in this new study. And going back to the pandemic itself, we already know, disproportionately, the virus impacts these very same communities. So really, really widening the gaps that already existed within society and waiting to see just how those get addressed.