The S&P 500 tumbled 7 percent in the early afternoon, triggering a key circuit breaker that halted trading for 15 minutes. It was the second time this week that the circuit breaker had been tipped and the fourth time since last week.
The Cboe Volatility Index, widely considered as the best fear gauge in the stock market, climbed to 76.45 on Wednesday.
Wednesday's slide came despite increasing policy efforts to counter the virus impact as investors continue to await convincing evidence that the spread of the virus is being brought under control.
"Uncertainty remains over whether current announced measures will prove sufficient or whether additional stimulus will be required. Further signs of virus containment across key developed markets could begin to lay the ground for a more sustained rally in risky assets," UBS Global Wealth Management's Chief Investment Officer Mark Haefele said in a note Wednesday.
The U.S. Senate on Wednesday passed a House bill to expand paid sick leave, enhance unemployment insurance, and ensure free testing in response to the COVID-19 outbreak.
The House bill, which was passed early Saturday, includes measures to make sure that businesses with fewer than 500 employees offer two weeks of paid sick leave to their workers, enhance unemployment insurance, boost funding for food assistance programs, as well as ensure free testing.
At a White House news briefing Tuesday, U.S. Treasury Secretary Steven Mnuchin said he is working with lawmakers on a "significant" economic stimulus plan, which includes support measures for small businesses, airlines and hotels, as well as potential cash payments for working Americans.
【国际英语资讯:Wall Street tumbles in panic selling amid COVID-19 crisis】相关文章:
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