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COVID-19 Crisis Day #10 – US Emergency Stimulation Package gives hope to people and markets!

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The COVID 19 crisis is still progressing aggressively and evidently has not yet seen the peak. From all countries, new horror reports about thousands of new deaths are coming in every day. This is a tragedy that causes fear. On the positive side, states and societies are slowly learning to deal with the situation. In addition to socio-medical measures, this includes financial measures to support the economy. The highlight was certainly the two-trillion-euro package of measures in the United States.

  • The emergency stimulus package to bail out the U.S. economy amid the coronavirus pandemic will total $6 trillion — a quarter of the US GDP, the White House said Tuesday;
  • Included in the package is an almost $2 trillion emergency bill which, will issue direct checks for American families, bailouts for the airline industry and a $350 billion loan program for struggling small businesses;
  • It’s the largest economic stimulus package in US history;
  • The Dow Jones surged 11.4%, or 2,113 points, the biggest point gain ever, as well as its largest percentage increase since 1933;
  • The London FTSE100 Index and the Asian HSI Index continued the positive trend today and rose by more than 4.4% and 3.8% respectively. The German DAX also gained more than 3% (9.00 GMT);
  • Bitcoin (BTC) was again able to gain slightly and at times broke the $6,800 mark;

The COVID-19 crisis is far from over. However, the markets may have the hope that the measures taken by US policymakers may be sufficient to make the post-COVID-19 reboot a success. It is still too early to rejoice but these measures and the positive reception by the markets are psychologically extremely important for society. The hope for a post-crisis reboot gives strength.

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