The Russian economy is poised to collapse this year after the U.S. and its European allies hit the Kremlin with a slew of crippling financial penalties over its unprovoked invasion of Ukraine. 

Russian manufacturing activity plunged in March, contracting at the sharpest pace since May 2020 as businesses confronted a sharp rise in prices and a big decline in new orders. Western sanctions have effectively isolated Russia from the international financial system and prevented it from accessing new technology.

Experts think that is just the beginning of a major slide for the Russian economy this year.

The owners and operators of New York City's 41 Broadway theaters will extend a mask mandate for audiences through at least May 31. 

"Since resuming performances last fall, over five million attendees have seen a Broadway show, and the safety and security of our cast, crew and audience has been our top priority," Broadway League President Charlotte St. Martin said in a statement. "Our intention is that by maintaining strict audience masking through at least the month of May, we will continue that track record of safety for all."

While the Broadway League urges audience members to get vaccinated, they noted that many theaters will no longer require proof of vaccination after April 30. Customers should consult each show's website or point of purchase for information about proof of vaccination requirements. 

Gary B. Smith and Quincy Krosby provide insight on record inflation's impact on the stock market on "Making Money."

The New York Fed’s closely-watched regional manufacturing report rose thirty-six-points to 24.6 in April. 

"New orders and shipments grew strongly, and unfilled orders increased. Delivery times lengthened, though at a slower pace than in recent months, and inventories rose..." the bank stated in its Empire State Manufacturing Report.

New York Federal Reserve Bank

Wall Street sign (AP Photo/Seth Wenig)

U.S. equity markets, as well as the bond market, will be closed on Friday. Futures markets will be closed as well, so no trading in equities or commodities such as oil or metals.

Read the full story: Good Friday: Stock and bond markets, what to know

Russian President Vladimir Putin (AP Newsroom)

Russia may have defaulted on foreign bonds for the first time since the years following the 1917 Bolshevik Revolution. Russia tried to service the debt in rubles when it was mandated that payment be in dollars. Continue reading

Illustration of Bitcoin ( Reuters Marketplace)

Bitcoin is back around $40,000, after dipping below that on Thursday. Bitcoin is down more than 12% month-to-date and off more than 13% year-to-date. Continue reading

Gas prices (AAA)

The average price for a gallon of gasoline in the U.S. ticked fractionally lower on Friday to $4.073, according to the latest numbers from AAA. The price on Thursday was $4.074. The previous record high was $4.33, set on Friday March 11, 2022.