Thursday August 13, 2020

Covid-19: US stocks maintain rally as $2tr stimulus is agreed

German government granted emergency powers to deliver rescue package including €156bn of new borrowing

25th March, 2020
Mike Pence and Donald Trump: the White House agreed a stimulus deal with the Senate overnight. Picture: Doug Mills-Pool/Getty

US stocks continued to rally as senators and Trump administration officials agreed a $2 trillion stimulus deal to counter the effects of the Covid-19 pandemic.

The Dow Jones Industrial Average closed up more than 1,200 points, or 6 per cent, building on an 11 per cent advance on Tuesday, its biggest one-day increase since 1933.

In Germany, Angela Merkel’s government secured emergency powers, allowing it to deliver a financial rescue package. The Bundestag voted to set aside constitutional debt limits...

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