The economic stimulus package bill negotiations by the US administration for Donald Trump's response to Corona19 were reached on the 25th (local time).
The White House and the Senate agreed on a bill for the Corona 19 stimulus package, up to $ 2 trillion (about 2,500 trillion won), that day, according to Bloomberg News. Details of the legislation have not been announced, but it is known that economic support for corporations, states, and cities that were hit by Corona19 was the key.
Earlier, the global stock market skyrocketed to the news that Congress's stimulus package negotiations are imminent.
New York's Dow Jones 30 Industry Average Index ended trading at 2,704.91, up 2112.98 points (11.37%) on the 24th. It is the largest gain in 87 years since 1933, and the fifth in the history of the Dow's 120-year history. On the 15th of March, 1933, during the Great Depression, the Dow index soared more than 15% to record the highest rate ever.
The New York Stock Exchange gained sharply on the same day when US Treasury Secretary Stephen Manusin and US Senator Chuck Schumer, Democratic Party leader, said they had seen an approach in the stimulus negotiations the night before. The Standard & Poor's (S & P) 500 index closed at 2447.33, up 209.93 points (9.38%). This is the largest increase in 11 years since October 2008, the time of the global financial crisis. The Nasdaq index centered on technology stocks also closed at 7417.86, up 557.18 points (8.12%).
In addition, the Federal Reserve (Fed) has announced its position to pursue an unlimited quantitative easing policy that spreads cash to the market by buying unlimited dollars and buying all government bonds, local bonds, and corporate bonds. According to Wall Street's analysis, investors' anxiety has calmed down as the stimulus package, which is about 10% of the time, is approaching the Senate. Larry Curdlow, chairman of the White House National Economic Commission (NEC), told reporters today that the government's fiscal policy was $ 2 trillion, and the Fed's monetary policy was $ 6 trillion, all to ease the economic impact of Corona 19. I said I would put it in.
However, the Wall Street Journal (WSJ) points out that the three largest indices in the New York Stock Exchange are still around 24% lower than their peaks in mid-February, before the Corona 19 crisis spread. It is also pointed out that the rapid spread of Corona 19 will lead to an unstable market with the possibility that the New York Stock Exchange will return to a slump again at any time as the United States emerges as a new epicenter. New York stock markets are more likely to be affected by the trend in the spread of Corona19 than by the US government or the Fed's economic recovery measures.
The European stock market also recorded the largest gain since 2008. The leading indices for the UK, Germany, France and Italy stocks rose by 8-11%. The Euro-Stoxx600 index, the pan-European index, surged 8.4%, the largest gain since 2008.
Washington = Kookki Yeon Correspondent firstname.lastname@example.org
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