United Kingdom  

Even a trillion dollar promise can't lift global stocks

Video Credit: Reuters Studio - Duration: 01:29s - Published
Even a trillion dollar promise can't lift global stocks

Even a trillion dollar promise can't lift global stocks

European and Asian shares slid again Wednesday, even after Donald Trump said he planned a $1 trillion package of aid for the U.S. economy.

Julian Satterthwaite reports.

0
shares
ShareTweetSavePostSend
 

Donald Trump wants a one trillion dollar stimulus package.

Governments around the world are ramping up spending plans.

None of it seems to reassure markets though, or not for long.

Though U.S. stocks ended Tuesday (March 17) with big gains, the optimism didn't last into Wednesday (March 18).

Stocks around Asia closed lower.

Australia's ASX index shed over six percent, giving up the previous day's gains.

Hong Kong's Hang Seng sank to more than three-year lows.

Europe's top indexes all then lost four percent or more from the open.

After the recent pain for airlines, the focus is now shifting to the companies that supply them.

Planemaker Airbus was off over 13% in early trade.

Engine maker Rolls-Royce was down over 14%.

Not helping the mood in Europe, talk that the European Central Bank has run out of firepower to help.

That was the suggestion from Austria's central bank chief, though he soon retracted the claim, after a public rebuttal by the ECB.

The growing crisis even has German government bonds - normally seen as a safe haven - on the slide.

That as traders bet euro zone countries are about to splurge on debt.

Italy's government has called for joint European 'coronavirus bonds' to finance stimulus.

When asked, German chancellor Angela Merkel said she couldn't rule it out.



Related news from verified sources

Dollar surges, stocks fall as ECB fails to stop panic

The dollar surged, bonds plunged and global markets struggled to find their footing on Thursday as...
Reuters - Published

Global stocks lower after US senate approves virus aid deal

Global stock markets and US futures have declined after the US senate approved a proposed 2.2...
Belfast Telegraph - Published



Tweets about this


Related videos from verified sources

$2 tln U.S. stimulus fails to lift global stocks [Video]

$2 tln U.S. stimulus fails to lift global stocks

The U.S. has a $2 trillion stimulus package, but that wasn't enough to lift global stock markets Thursday. Julian Satterthwaite reports.

Credit: Reuters Studio     Duration: 01:37Published
Even a trillion dollar promise can't lift global stocks [Video]

Even a trillion dollar promise can't lift global stocks

European and Asian shares slid again Wednesday, even after Donald Trump said he planned a $1 trillion package of aid for the U.S. economy. Julian Satterthwaite reports.

Credit: Rumble     Duration: 01:30Published