HUMAN WRONGS WATCH

Despite governments pumping trillions into their economies, European markets have plunged over 30 percent over the last 30 days as the coronavirus pandemic threatens to crash the global economy.

The slide in European stocks follows a sharp market drop in Asia Pacific on Monday. In India, the Nifty 50 plunged more than eleven percent, while the Straits Times index in Singapore slid over seven percent. Stocks in mainland China were also in the red, with the Shanghai Composite down over three percent. Hong Kong’s Hang Seng is trading nearly five percent lower.

Governments around the world have launched massive aid packages to support businesses and workers to get through the crisis, with the US yet to agree an economic stimulus plan. A fiscal stimulus bill failed a key procedural Senate vote on Sunday as Democrats have warned the measure was not enough to help workers and was too focused on bailing out companies. House Speaker Nancy Pelosi earlier pointed out she was not on board with the Republican-version of the stimulus plan, saying: “From my standpoint, we’re apart.”

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“Investors are recoiling in horror this morning” at the latest statistics, said Stephen Innes, global chief markets strategist at AxiCorp. “The rapid spread has triggered unprecedented draconian containment measures. All the while, Congress is dillydallying on an aid plan,” he wrote in a research note seen by CNN.

Fears over the economic impact of the outbreak continue to weigh heavily on investor sentiment as countries across the world battle against the disease. There are now over 339,000 confirmed cases worldwide and more than 14,000 deaths.

*SOURCE: RT. Go to ORIGINAL.

2020 Human Wrongs Watch