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House Approves $2 Trillion Virus Rescue Package

Published 03/27/2020, 01:28 PM
Updated 03/27/2020, 01:31 PM
© Reuters.

By Kim Khan

Investing.com - The U.S. House of Representatives passed the $2 trillion coronavirus fiscal stimulus package Friday, approving the bill with a voice vote.

The bill cleared its final legislative branch hurdle and will now be sent to President Donald Trump, who has promised to sign it into law.

The S&P 500 was down 3.03% after the vote. It had been down about 3% before the vote, but the market has rallied sharply for three-straight days when it became clear Republicans and Democrats had reached a deal for a rescue package.

The package includes direct payments to taxpayers, beefed-up unemployment benefits and $500 billion for industries hit hard by the impact of Covid-19 pandemic.

Latest comments

Unfortunately the USA just wasted trillions of dollars while having stupid smirks on their faces like they are doing us a favor when spending OUR tax dollars because too many people live paycheck to paycheck. Trump is trying to save the stock market and that is about it. The federal reserve simply doesn't have the tools to prop up the markets during a recession no matter how much money they throw at it. Expect more doom and panic from Trump in the coming months.
They will use the bailout loans to buy time and come up with a bankruptcy plan. Then they can layoff workers and write off debts.
its time to watch the market and take action !!
WYFYTA?
Why not spend the 2 trillions on healthcare improvement, more hospital facilities, sanitizing areas or hiring more medics?
read all about it, learn and return...
rReal quick Ern, if business goes down it doesn't matter how clean anything is people will be going to get food from places they shouldn't be and it may be your house who knows? Just cleaning things and hospitals will not fix the problem.BTW, those things are being done too.
Take stimulus check to buy AR15 or AK...checkmate fedbois.
There's a 38 special I've been eyeing. I might go pick it up on your suggestion. Cheers!
world economy is affecting by the corona virus
Are you living in the cave?
This is only a loan. They will recoup it next year when you file for your taxes.
they report that the dow is down after the news, but this is the news. so isn't it down during the news.
sorry s&p**
Buy the Rumor, Sell the Fact
Never thought on the day the House passes this bill stocks are selling off. Stocks will be down for a long time to come. For sure.
My optimism has officially gone away.
And they said they weren't going to make this political. Nice wristband..
hopefully the check timing occurs with the isolation being over, otherwise the primary benefactor of the checks will be Amazon
And Chewy
Use it to buy stock. Triple the money in a year easy
The market need $10 trillion more
I want to buy bread first, if any.
They have rice there too don't they?
Hurry up... I want my check fast.
They don't send checks there, do they?
Let the stock buy backs begin!!
And of course political signaling.
priced in
Finally, will the markets rally now? Only to get shorted on Monday....
I'm getting tired of the whipsawing market too.
- I completely agree, stay safe out there!
Wash your hand keep space fom others , this is reality dont take it the wrong way . Keep your guards up .
Good news! 💪🏼
Hopefully market will up?
Is that why they blew all that taxpayer money?
They gonna need another economic stimulus in a few weeks.... retracement period now. Big fall for DJ on the way
Buy the new lows and sell the rallies. The bear market has just begun and it isn't going away in 3 weeks. The numbers on COVID are going to double every 2-3 days until they stop keeping count. We haven't even begun to feel the effects of this all yet.
c'mon no negative waves huh? We all know whats happening...Yer not s'posed to say it
good. now recovery time
lol recovery from virus.. money doesn't stop or cure the virus
recovery?! ROFL. you are looking towards a period of at least 6 months.
I can't quite make out your name. You lost?
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