Trump Warns of Pain Ahead While ‘Shocking’ Reality Sets In
“Faced with staggering projections that as many as 240,000 Americans will die from coronavirus, President Donald Trump largely abandoned his optimistic tone on Tuesday, telling the U.S. to brace for one of its toughest stretches as a nation. His critics had said for weeks that Trump had been too blithe in his approach to the outbreak, frequently telling reporters that it would simply go away. A changed president addressed the nation on Tuesday, one who appeared rattled by the scope of death and suffering the government’s scientists foresee.”
EU Unveils Plan to Stop Firms Firing Workers Amid Virus Slump
“The European Union announced a plan to discourage businesses in the countries worst hit by the coronavirus from firing workers as they struggle to make ends meet. Amid criticism that the EU has done too little to mitigate the economic impact of the pandemic, the European Commission signaled on Wednesday that it will use central funds to pay companies to keep workers in jobs.”
Traders Get Reality Check With China’s Cautious Stimulus Measures
“China’s authorities are proving surprisingly reserved when it comes to unleashing support measures for its ailing economy, and investors aren’t liking the reticence. The country’s financial markets are starting to lag global peers, after initially outperforming on optimism officials would take more muscular stimulus. The yuan has fallen for seven days versus a basket of 24 trading partner currencies, while the CSI 300 Index of shares trailed MSCI Inc.’s global benchmark by the most since 2015 last week.”
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