Daily Archive: March 28, 2020

‘Don’t be a hero’: Why some market watchers are reluctant to call a bottom despite big rally for stocks

The fear was real. Wall Street was ready to celebrate the passing of a US$2 trillion stimulus package, but after partisan bickering on Sunday and again on Monday left the bill in limbo, investors panicked. With the Democrats and Republicans incapable of setting their differences aside while an economic depression loomed, stocks were not the place to be.

So for the first time since 2016, investor selling pushed the Dow Jones Industrial Average below 19,000 points — to an intraday low just above 18,200  — eliminating all the returns the index had made since the night U.S. President Donald Trump was elected. Some of the biggest names in corporate America plunged to levels not seen in years, with aerospace giant Boeing Co. among the most worst hit, trading below US$90 for the first time since 2013.

Then, a glimmer of hope changed things. The two political parties finally found common

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Chile government negotiates bill-paying delay for poor as coronavirus bites By Reuters

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© Reuters. Firefighters sanitize a bus terminal as a precautionary measure, during a preventive quarantine following the outbreak of coronavirus disease (COVID-19), in Santiago

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By Natalia A. Ramos Miranda

SANTIAGO (Reuters) – Chilean President Sebastian Pinera announced on Friday that low-income families will be able to delay household debt payments without the fear of having utilities cut off in a bid to mitigate the economic pain caused by the spread of coronavirus.

Pinera said three million Chilean families would be able to make use of the measures, agreed following talks with electricity, water and telecommunications companies.

The government has also sought congressional approval for a “Covid-19 Bond” of 50,000 Chilean pesos ($60USD) per dependent for the poorest families and a job protection bill for workers who cannot fulfill their roles amid a quarantine being rolled out around the country.

The move is part of his centre-right government´s attempt

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Stock market lessons from the last 3 bear markets: Great Recession, Dot com bubble, 1987

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