Trump ask Congress for raising funds, tax relief to combat coronavirus

Trump said we are in critical time in the fight against the virus. We should be prepared to combat the virus. He said stop the politics, put aside, and we should think about our country.

In U.S. stock markets the Equity futures are pointing to more losses on Thursday after President Trump delivered a speech on the coronavirus outbreak that appeared to disappoint investors.

The futures for S&P 500 moved from a loss of 0.4% just before the president Trump spoke from Oval Office at 9 p.m. EST to a loss of 3.3% an hour later.

Major futures markets are now pointing towards a decline of 4.8% or about 1100 Dow points.
Major futures markets are now pointing towards a decline of 4.8% or about 1100 Dow points.

The declines in futures markets follow the abrupt losses in the regular trading on Wednesday, as there are looming worries persists in investors that responses from government and central banks will be lacking arrangements to prevent the outbreak from severely impacting the global economy.

President Trump said in a positive tone, that he will enact a 30-day ban on all travel to and from Europe, by excluding the United Kingdom in order to slow the virus’ spread. He also urged the Americans in this hour of emergency to listen to directives from their local officials, such as the bans on the mass gatherings and to observe the social distancing protocols.

DOW index fall of 1,464 points and dragged it 20 percent below the record set in last month and put the index in a bear market along with the Thursday’s selloff will also firmly send the S&P 500 and Nasdaq into a bear market.
President Trump also announced some more actions that are designed to ease the economic cost of the outbreak by including unspecified aid for the workers impacted by virus, a deferment of tax payments for some individuals and businesses and also the low interest loans for small businesses.