Markets tumble as scale of stimulus programs numbs investors [Reuters (UK)]
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Source: Reuters
Markets tumble as scale of stimulus programs numbs investors - Reuters 6 Min Read NEW YORK (Reuters) - Global equities tumbled anew on Wednesday, with bond and gold prices also falling in an unusual tandem, as markets grappled with the sheer scale of government programs and handouts aimed at softening the economic shockwave from the coronavirus. The Trump administration asked Congress to approve $500 billion in cash payments to taxpayers in two rounds starting April 6 and $50 billion in secured loans to U.S. airlines to address the outbreak’s impact, according to a document seen by Reuters. Traders are struggling to sort out the various moves by global central banks and governments to shore up economies bracing for what looms as a short but deep global recession from a pandemic still on the rise. Investors dumped precious metals and other safe-havens in favor of cash after the additional U.S. stimulus measures announced Tuesday failed to calm markets hit by mounting fears over the eco
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