CORONAVIRUS | Spain unveils an 'unprecedented' 200 billion euros coronavirus package
| The Trump administration on Tuesday pursued a US$1 trillion stimulus package that could deliver $1,000 cheques to Americans within two weeks to buttress an economy hit by coronavirus, while New York said it might order its residents to stay home.
Illinois and Kentucky recorded their first coronavirus deaths, and authorities said 22 people had been infected at a nursing home in suburban Chicago. Less than a week after the NBA suspended its season, star player Kevin Durant tested positive for the virus, the Athletic reported. His administration sought more than US$1 trillion for a stimulus package, including $50 billion for hard-hit airlines facing bankruptcy.The Trump administration is also considering a plan to send cheques to individual Americans of US$1,000 to help them weather the crisis, though details remain unclear.
US stocks jumped on Tuesday, a day after their steepest declines since the 1987 crash, as the Federal Reserve took further steps to boost liquidity. The benchmark S&P 500 closed up six percent. Mnuchin said the government may shorten trading hours if necessary.Spain announced a 200 billion euros package on Tuesday to help companies and protect workers and other vulnerable groups affected by the spiralling coronavirus crisis.
Half of the economic assistance measures, which are worth 20 percent of Spain's output, are state-backed credit guarantees for companies, and the rest include loans and aid for vulnerable people. "We want to protect employment and we want companies to know the government will help them," Sanchez said. "Nobody will be left behind."
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