Voice of America
25 Mar 2020, 19:05 GMT+10
Asian markets surged Wednesday, but European stocks and U.S. futures were mixed as fears of the spread of the deadly coronavirus weighed heavily on investors.
Japan's Nikkei index jumped 8%, following massive gains in New York on Tuesday, with the widely watched Dow Jones Industrial Average of 30 key U.S. stocks surging more than 11%, its biggest one-day gain in 87 years. Hong Kong's Hang Seng finished up 4% and the Shanghai Index gained 2%.
But as Wednesday trading moved to Europe, the results were more measured, with key indexes in London and Paris up more than 1%, while the benchmark Frankfurt indicator off by 1%.
In New York, ahead of the start of trading for the day, Dow futures drifted slightly up or lower, while the broader S&P 500 index for futures was down 1%.
Tuesday's robust gains in the U.S. and Europe and Wednesday's boost in Asia were buttressed by the U.S. Congress finalizing work on a massive $2 trillion aid package to U.S. businesses and most Americans to offset the disruption to corporations slowed or shut down by the coronavirus pandemic.
It was the biggest-ever government investment in the U.S. economy, the world's largest, but also one that has been buffeted by the growing spread of the virus.
Uncertainty about the virus and its economic toll have rattled markets for weeks, especially the last month. Stock prices have fallen sharply while governments and central banks have rushed to cut benchmark interest rates and inject money into national economies to support businesses and help consumers regain their economic footing.
Get a daily dose of Peking Press news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Peking Press.
More InformationBATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
(250713) -- LAS VEGAS, July 13, 2025 (Xinhua) -- Kuai Man (R) of China hits a return during the women's singles semifinal match against...
Poonch (Jammu and Kashmir) [India], July 13 (ANI): NY 49 RR of Romeo Force of the Indian Army organised the Cricket Premier League...