Coronavirus: Record $2trn clears Senate hurdle but stocks sink again

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Stock markets are on course for a fresh sell-off, unwinding two days of recovery, despite the $2trn (£1.7trn) US coronavirus relief scheme clearing its first hurdle.

on Tuesday and Wednesday on hopes the measures - the largest programme of support ever initiated - would have a smooth passage as investors eye the prospect of a recession deeper than that caused by the financial crisis in 2008.

The package includes $58bn for the mostly-grounded airline industry - split between grants and loans to cover pay cheques - with companies drawing support unable to cut staff until the end of September or change their labour agreements.Image:It is understood most Americans would qualify for cheques of up to $1,200 each.

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Out of treasury straight into the pockets of the rich and hedge funds and realDonaldTrump

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