Broad gains in the United States helped push MSCI's index of global equities up 2.05 per cent after a rally in Japan and modest declines in Europe. — Reuters pic
The Trump administration asked Congress for an additional US$250 billion in emergency economic aid for small US businesses reeling from the impact of the outbreak. “After the market rallying, we are having some consolidation as we are in a bottoming process, and you cannot have a V-shaped recovery,” said Francois Savary, chief investment officer at Swiss wealth manager Prime Partners. “Trading is between 2,200 to 2,800 on the S&P 500 at the moment and we will stick to that for the time being as we are in recovery phase.”
Hospitalisations for Covid-19, the respiratory disease caused by the new coronavirus, seemed to be leveling off in New York state, but deaths across the United States jumped on Tuesday by a record of more than 1,800.
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