The stock markets are on the right track for a new liquidation, leading to two days of recovery, despite the American rescue program against coronaviruses of 2 billion dollars (1.7 billion pounds sterling) crossing its first obstacle.
The federal government’s aid package to the world’s largest economy to combat the disruption caused by COVID-19 overcame last-minute Democratic opposition to get the Senate vote overnight.
Friday, the House of Representatives will have a say. Donald Trump should then sign the bill.
The stock markets had rallied On Tuesday and Wednesday, the hope that the measures – the largest support program ever launched – would pass smoothly, with investors contemplating the prospect of a deeper recession than that caused by the 2008 financial crisis.
The package includes $ 58 billion for the air transport industry, most often anchored – split between grants and loans to cover paychecks – companies unable to downsize until the end of September or change their work agreements.
Boeing, struck by the crisis, already in shock from the grounding of the 737 MAX, obtains $ 17 billion.
It is understood that most Americans would be eligible for checks up to $ 1,200 each.
Unemployment benefits are also being expanded, with small businesses receiving $ 367 billion to help pay their workers when they are forced to stay at home.
Stimulus from governments and central banks around the world has had a limited effect on investor confidence – with stock prices down more than 20% on average before Thursday’s opening.
After a nervous end to trading in the United States, the Nikkei in Tokyo was down 4.5% amid falls across Asia.
In London, the FTSE 100 index should open almost 2% less.