• Tue. Apr 23rd, 2024

US Releases One point eight Trillion Dollars to Stimulate Economy

ByBasirat Memudu

Mar 25, 2020 #economy, #US
President Donald Trump

President Donald Trump and the US Senate have agreed on economic relief package of over $1.8 trillion sending Asian shares higher.

Report says markets had rocketed on Wall Street and in London on Tuesday in anticipation of a deal being struck.

On Wednesday, Japan’s benchmark Nikkei 225 index was up 7.9% following news of the relief deal.

The stimulus package includes money to bail out industries that have been affected by the crisis.

In the US, the Dow Jones Industrial Average saw its biggest one-day gain since 1933 on Tuesday, surging 11.4% although the deal had not yet been signed.

In Asia, the Hang Seng index in Hong Kong rose 3.1%, and China’s Shanghai Composite was up by 2% in Wednesday’s trading session.