Stocks fall again on Wall Street as wild swings continue

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 99%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Stocks are sinking again Wednesday, wiping out half of a huge rally from a day earlier as Wall Street continues to reel on worries about the coronavirus.

Another big central bank made an emergency cut to interest rates in hopes of blunting the economic pain caused by COVID-19, which economists call the global economy's biggest threat. But investors are still waiting for details promised by President Donald Trump on potential aid for the economy through tax breaks and other relief.

For most people, the new coronavirus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. That's why many analysts say markets will continue to swing sharply until the number of new infections stops accelerating. In the United States, the number of cases has topped 1,000.

Italy's government announced $28 billion in financial support for health care, the labour market and families and businesses that face a cash crunch due to the country's nationwide lock down on travel. "Investors are still worried that those fiscal stimulus packages may not be able to contain the virus outbreak as well as to mitigate the impact on the economy," said Louis Wong of Philip Capital Management.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks surge on Wall Street following worst day since 2008Stocks are surging on Wall Street following the market's worst day since the financial crisis of 2008. The Dow jumped nearly 800 points, or 3.3 per cent, making up less than half of its plunge from the day before. It's all just theatrics. The stock market has a life of its own, no one has the crystal ball for predictions. Day traders usually get burnt big time.
Source: CTVNews - 🏆 1. / 99 Read more »

Investors look to history as U.S. stocks slammed by virus uncertainty, oil plungeInvestors look to history as U.S. stocks slammed by virus uncertainty, oil plunge GlobeInvestor
Source: globeandmail - 🏆 5. / 92 Read more »