The President ’s special epidemic prevention measures are not enough to improve the economic downturn
US President Trump delivered a national speech and announced support for economic measures to mitigate the impact of the new coronary pneumonia epidemic. These include providing financial support to workers forced to take sick leave, and instructing the Small Business Administration to provide low-interest loans to states and localities affected by the epidemic. In addition, it said it would call on Congress to increase US $ 50 billion in funding for this plan, postpone the tax deadline, provide immediate salaries tax relief, and provide an additional US $ 200 billion in liquidity funds for individuals and businesses affected by the epidemic. However, the rating agency Moody’s believes that the measures are not enough to prevent the US economic decline, at most just paving the way for the next round of stimulus. The lack of surprises in the US stimulus policy disappointed the market.
Global stock market plunges!
On March 12, the US benchmark index recorded its largest decline since 1987, while European stock markets recorded their largest single-day decline. Due to the markets lack of confidence in the Fed’s unconventional debt purchase measures and US President Trump’s economic proposal, it is not enough to buffer the economic impact of public health events. In the past 93 years, the S & P 500 has lost 20% 13 times and entered a bear market. Only two of them have not contracted.
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