Stocks dropped and the US dollar soared on Thursday as coronavirus fears overpowered stimulus efforts.
The European Central Bank unveiled a bond-buying program worth 750 billion euros, or $814 billion, on Wednesday. President Donald Trump signed a coronavirus relief bill into law, expanding unemployment insurance and granting sick leave to hourly employees. However, volatile markets and fears of a global credit crunch drove investors to US dollars, pushing the British pound to a 35-year low.Stocks dropped and the US dollar soared on Thursday as investors doubted central banks and governments would succeed in stopping the novel coronavirus from choking the global economy., or $814 billion, buying private and public bonds.
"Extraordinary times require extraordinary action," ECB President Christine Lagarde said, emphasizing that there were"no limits" to her commitment to the euro.
There's no stimulus that can overcome this. Not sure why this money isn't going directly to consumers. I think 50% unemployment is probably around the corner.
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:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
20 stocks to buy for big dividend payments amid coronavirus crash: BofA - Business InsiderBANK OF AMERICA: Buy these 20 cash-rich stocks that pay fat dividends and provide the best long-term protection against market crashes Why would I take advice from BankofAmerica They are broke Good read...
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stocks, oil sink again as recession fears batter marketsNEW YORK (AP) — The vicious swings keep coming for the stock market, and the S&P 500 sank more than 5% in early trading Wednesday to erase most of the prior’s day respite. Markets have been... Mkt indices have fallen to Obama levels Who cares about stocks at this moment Dow to 10K. 👀
Source: AP - 🏆 728. / 51 Read more »
Top forecaster who exited stocks weeks ago predicts ‘rolling bear markets’ until 2022'After 10 years of being on steroids, I’d say this market is very fragile. I was looking for something to turn the bull market out. The virus was the needle that pricked the bubble.' Lol experts were wrong for years now say I told you so due to a virus that literally is shutting down the economy? It’s not a popped bubble, companies are literally not working The stock market was not similarly affected by Spanish Flu. Likely a comorbidity of factors causing market to drop & dead cat bounce. All humans on planet are taking actions collectively in a manner that is unprecedented. How do we utilize effectively to reverse fall in stocks?
Source: MarketWatch - 🏆 3. / 97 Read more »
Global stocks drop as investors shun risk on coronavirus fearsU.S. stock futures and several Asian shares fell in choppy trade on Wednesday, a... Can they, you know, just stop? Is this.. a triple negative?
Source: Reuters - 🏆 2. / 97 Read more »
Stocks, Oil and Bonds Drop in Sync as Economic Fears DeepenU.S. stocks tumbled shortly after the opening bell and oil plunged to its lowest in more than 17 years amid rising anxiety about coronavirus pandemic. His expression is my mood 😣 How long will it take to apologize to China? whee line go down
Source: WSJ - 🏆 98. / 63 Read more »
Stock market live updates: White House and Fed boost stocks, Dow up 1,000, Oil drops 6%Stocks attempted a rebound on Tuesday after the Dow and S&P 500's worst day since 1987 on Monday. GREAT let get gas down to a 1.50 gallon. WTI Member people who called a bottom like, well hundreds of millions of losses ago? For every bottom calling hero that is born from this, there is a path littered with corpses. I’m fine with not trying to be a hero.
Source: CNBC - 🏆 12. / 72 Read more »