Voice of America
26 Mar 2020, 00:35 GMT+10
Global stock indexes surged Wednesday as U.S. government leaders agreed on a $2 trillion rescue package for the world's largest economy to combat the worsening economic effects of the deadly coronavirus.
Japan's Nikkei index jumped 8% following massive gains Tuesday in New York, when the widely watched Dow Jones Industrial Average of 30 key U.S. stocks jumped more than 11%, its biggest one-day gain in 87 years.
But as Wednesday trading moved to Europe and the U.S., the results were more measured until later in the day.
In the end, indexes in London and Paris finished ahead by more than 4%, with Frankfurt gaining nearly 2%.
In New York, the Dow advanced by more than 4% in mid-afternoon trading with the broader S&P 500 up more than 3% and the technology heavy NASDAQ index gaining more than 1%.
Tuesday's robust gains in the U.S. and Europe and Wednesday's boost in Asia were buttressed by the U.S. Congress finalizing work on the massive $2 trillion aid package to U.S. businesses and most Americans to offset the disruption to corporations slowed or shut down by the coronavirus pandemic.
It was the largest-ever government investment in the U.S. economy, the world's largest, but also one that has been buffeted by the growing spread of the virus.
Uncertainty about the virus and its economic toll have rattled markets for weeks, especially the last month. Stock prices have fallen sharply, while governments and central banks have rushed to cut benchmark interest rates and inject money into national economies to support businesses and help consumers regain their economic footing.
Get a daily dose of London Mercury news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to London Mercury.
More InformationPuppies abandoned in bin bag by side of road in East Yorkshire
Live Aid at 40- 'My Wednesbury father was an unsung hero of the concert'
The people wrongly accused of cutting the Sycamore Gap tree down
Newspaper headlines- 'Kate aces it' and UK PM 'won't stop a single boat'
Latin makeup labels put allergy sufferers at risk, say campaigners
BBMF Lancaster sends emergency alert after suffering engine issue
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...