Stock markets retreat as nervous investors pocket week's gains

"European markets have pulled back...with caution being the order of the day after such a good rally," said Neil Wilson, chief market analyst at trading group Markets.com.Earlier, Asian stock markets had mostly managed to record more gains.

The bill will pump $100 billion into hospitals and health facilities in critical need of medical gear like personal protective equipment and ventilators, create a $500-billion loan reserve for large corporations including airlines, and provide $377 billion in grants to suffering small businesses. The legislation is a welcome reprieve, and includes cash payouts to most Americans and a huge expansion of unemployment benefits. But economists warn of a tough road ahead." that will be worse than the aftermath of the global financial crisis in 2009, said International Monetary Fund chief Kristalina Georgieva.

US Treasury Secretary Steven Mnuchin on Friday pledged to quickly send out direct cash transfers, saying,"Americans need that money now.""The success of a massive stimulus package...will depend on how quickly the aid can get to beleaguered consumers and businesses – a huge challenge for federal and state agencies that aren't built to move quickly," said Art Hogan, chief market strategist at National Securities.

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