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Alba Iulia
Sunday, June 7, 2020

Coronavirus: Record $ 2 Billion Breaks Senate Obstacle But Stocks Still Falling | Economic news

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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.



President Trump said he hopes workers in the United States could return to work by Easter







Trump’s hopes can work again by Easter

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.

Boeing 737 MAX aircraft are stored in multiple locations in the United States
Picture:
Boeing 737 MAX planes were immobilized a year ago after a second fatal accident

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.

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