'The situation is about to get worse': Stocks slide as surging US unemployment and coronavirus cases stifle stimulus hopes | Markets Insider

of the novel coronavirus, surpassing China as the country with the most confirmed infections in the world.that would help distressed industries such as airlines, state and local governments, small businesses, healthcare providers, and households weather the pandemic. The Senate approved the legislation earlier this week, and the House of Representatives is expected to hold a vote later today.

. The Dow Jones Industrial Average also surged 21% over that period, technically entering a bull-market phase and ending the 11-day-old bear market."The situation is about to get worse in the coming weeks," Ipek Ozkardeskaya, senior analyst at Swissquote Bank, warned in a morning email, citing the surges in US unemployment and coronavirus cases.

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