Global stocks fall again despite virus rescue efforts

Sun Online Desk

24th March, 2020 03:57:55 printer

Global stocks fall again despite virus rescue efforts

 

Financial markets in Europe and the US have continued to fall despite fresh action by the Federal Reserve to support the American economy.

The US central bank said it would buy as much government debt as needed to soothe markets, while providing new financing for households and firms.

Shares in Europe and the US rose on the news, but soon fell back as Congress remained divided over further relief, reports BBC.

Investors are worried about economic damage due to the coronavirus.

US stocks have already fallen by around a third since the middle of last month, while even areas of investment normally seen as safe havens, such as the bond market, are under stress as hard-hit funds are forced to sell good assets to cover losses elsewhere.


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