The Dow Jones Industrial Average is expected to dip 700 points further on Wednesday, after falling over 600 points at the end of March. This comes as the White House predicts 100,000 to 240,000 coronavirus-related deaths in the United States
On Monday, the broader markets surged upwards while putting aside the concerns of the rising coronavirus cases. With Monday’s surge, the Dow is now 20% up from its COVID-19 sell-off low of 18,500.
The Australia government has announced its plans to release $80 billion to rescue jobs affected by the coronavirus. This brings the total stimulus package to A$320 billion, as the world confirmed coronavirus cases surpasses 700,000.
Tesla (TSLA) stock is 0.65% down at the moment of writing, or $511.00. Tesla still remains one of the best performers on the market. In the past week alone, its shares moved over 40%.
Dow Jones started the day with losing 1,058 points, or 4.7%. The S&P 500 was down 4% and the Nasdaq was 3.87% lower. Alphabet (GOOGL) stock is in the red as well.
The Dow Jones Industrial Average is leading the pack on a bull rally, after gaining 1,300 points as of March 26. Although still below last year’s lows, the 6.38% gain is the biggest 3-day surge ever recorded since 1931
Dow Jones has seen a path to recovery after the Federal Reserve announced major stimulus measures on Monday. Here’ a look at how this fiscal stimulus might help to overcome the existing economic challenges.
The most hit industries like aviation, hotels, cruise lines, etc. showed a quick recovery on Wednesday after the Federal Reserve announced a $2 trillion package to support the ailing economy.
Bitcoin price is heading towards $6,800 levels, as the U.S. stock market awaits $2 trillion help from the government. The American economy is at the free fall, but the quick and efficient measures like the stimulus package and medical care are saving lives and stock markets.
After the FED, Treasury and key persons in the American government made a hefty of clean, effective moves, the stock market looks much better.
It was a relief to the Dow Jones and the stock market at large when the White House and the Senate agreed on a deal regarding the coronavirus stimulus bill.
Amazon stock has revamped 3.07% at the market close on March 23. In the pre-market, its price is $1,970. The company is set to deliver and pick up at-home test kits which are provided by gates foundation in Seattle.
The FED’s Jerome Powell and Secretary of Treasury Steven Mnuchin announced insane stock buyout. They want to support the economy to deliver relief to small businesses. They implement a zero rate on repo operations to make sure the bank has short-term funding.
On Monday, the Dow Jones corrected another 3% falling 600 odd points and reaching close to 18,500 levels. Another bill passed by the U.S. lawmakers failed to get the Senate clearance. On the other hand, the Federal Reserve has announced a strong stimulus to support the ailing economy.
The fiscal stimulus bill presented by the Trump government failed to receive a key Senate vote and was halted from passing. The Democrats said that the bill did little to help out workers and more to bail out companies.