Financial markets

First grade teachers, Ellie Morgan, 25, left, Hannah Sprayberry, 28, right, pose for a portrait, and say they are taking around 5 per-cent pay cut on Thursday, May 28, 2020, in Fort Oglethorpe, Ga. With sharp declines in state spending projected because of the economic fallout from the COVID-19 pandemic, America's more than 13,000 local school systems are wrestling with the likelihood of big budget cuts. (AP Photo/Brynn Anderson)

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)

A woman walks into a closing Gordmans store, Thursday, May 28, 2020, in St. Charles, Mo. Stage Stores, which owns Gordmans, is closing all its stores and has filed for Chapter 11 bankruptcy. (AP Photo/Jeff Roberson)

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)

A women wearing a face mask walks past a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange, Thursday, May 28, 2020. Asian stocks are mixed after an upbeat open, as hopes for an economic rebound from the coronavirus crisis were dimmed by tensions between the U.S. and China over Hong Kong and other issues. (AP Photo/Vincent Yu)

Emma Hamlet prepares orders received online to be picked up at the Long Beach Surf Shop store her family owns, Wednesday, May 27, 2020, in Long Beach, N.Y. Long Island has become the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it enters the first phase of the state's four-step reopening process. (AP Photo/Mary Altaffer)

FILE - In this March 17, 2020, file photo, people wait in line for help with unemployment benefits at the One-Stop Career Center in Las Vegas. The coronavirus pandemic has been particularly brutal to the tourism-dependent economies of Nevada and Hawaii, lifting the unemployment rate in both states to about one-quarter of the workforce. (AP Photo/John Locher, File)

This photo combo shows from left, Lisa Su, president and CEO of AMD, David M. Zaslav, President and Chief Executive Officer of Discovery Communications, General Motors Chairman and Chief Executive Officer Mary Barra, Walt Disney Company Chairman and CEO Robert A. Iger and Netflix Founder and CEO Reed Hastings. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.  (AP Photo/File)

FILE - In this May 1, 2019 photo, Lisa Su, president and CEO of AMD, attends the opening bell at Nasdaq, in New York. The typical pay package for CEOs at the biggest U.S. companies topped $12.3 million in 2019, and the gap between the boss and their workforces widened further, according to AP’s annual survey of executive compensation.   (AP Photo/Mark Lennihan, File)