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The wheels are in motion now in a massive stimulus package to offset the fallout from covert nineteen could be big is going to be bold in the level again of enthusiasm to get something done I don't think I've ever seen anything quite like it president trump is pushing for more than a trillion dollars in spending to blunt the economic fallout from the virus we're told the president say to receiving alarming information on the impact in one case a White House official tells us data from credit card companies show purchases falling off a cliff and then as treasury secretary Steven Mnuchin moving fast to stem the fallout we are shutting down parts of this economy and we're gonna use all the tools we have as I've said and what tools we don't have we're going back to Congress the new Gen warns that without big stimulus the U. S. unemployment rate could climb to twenty percent so is pushing a plan to send payments of a thousand dollars directly to Americans we're looking at sending checks to Americans immediately and what we've heard from hard working Americans many companies have now shut down whether it's bars or restaurants Americans need cash now and the president wants to get cash now and I mean now in the next two weeks Mnuchin wants payment sent out by the end of April followed by another set of checks in four weeks time if they're still a national emergency investors applauded the move the S. and P. five hundred finished the day up six percent but now U. S. futures are lower again and volatility shows no sign of slowing but there is an end in sight according to Barry Sternlicht CEO of Starwood capital I'm pretty optimistic that this long slide to oblivion that people are looking at is going to be shorter and we have to like hold together and act as one and we're gonna be fine but it's going to be painful is World War three for ninety days traders appear to be testing exactly where fundamental valuations should be as volatility remains sky high right now the Vicks is at seventy nine point nine in Europe stoxx are posting another round of losses after yesterday's modest gains for the very latest we bring in Bloomberg view and pasta live from London good morning you one good morning Karen they sent a CD of rage on trade as Bloomberg screens here in Europe every major stock market trading lower with the self worsening in the last hour among the worst performing sectors miners and construction company the studies under currently down three point six percent and as governments attempt to counter the effects of the court of ours a possible opening of the tool to join to debt issuance across the European Union Germany's under Merkel not ruling out the proposal life in London I'm you import spinning back they break you in thank you meantime in Asia an early rally fizzled overnight as sentiment turned sour here with details as Bloomberg's Juliette Sally in our Singapore bureau good morning Julia good morning Nathan the topics in Japan because virtually unchanged while the Nikkei was down one point seven percent after earlier rising more than four percent in Australia the S. X. two hundred fell six point four percent of the Aussie fell below sixty cents for the first time in seventeen years in Seoul the KOSPI closed at a ten year low at fifteen hundred ninety he won points while Hong Kong stocks was sold off in late trade amid reports of further travel restrictions there and the head of Tencent's earnings China's CSI three hundred close down two percent Kobe Asian equities notch up a six session of losses to remain at four year lows in Singapore I'm Julie at Sawley Bloomberg daybreak originally at thank you back here in the U. S. the impact from the outbreak is being felt everywhere we have Bloomberg team coverage on the fallout now beginning in New York with Bloomberg's Jeff Ballenger the largest mass transit provider in the country is asking the federal government for four billion dollars in aid new York's MTA says the corona virus has decimated revenue in New Jersey governor Phil Murphy is asking the White House for funds to expand hospital capacity he says the state's two thousand intensive care beds are a fraction of what is needed and could lead to hospitals denying life saving care to patients I'm Jeff Bollinger in New York now here's Martin di Caro from our Bloomberg ninety nine one news room in Washington the White House is ordering federal employees to limit personal contact though some exceptions may be made for law enforcement and criminal justice workers the government plans to maximize the use of telework saying non mission critical services should be scaled back meantime west Virginia's reported its first case of the virus this confirms the infection spread to all fifty states hi Martin to Carol in Washington now here's Greg Jarrett from our Bloomberg nine sixty newsroom in San Francisco this city is mostly a ghost town while many in here to the shelter in place some still scoff but they're in the minority in Washington a couple in their eighties were the first to die in Clark County just north of Portland Oregon they're now fifty people have died from the coronavirus in Washington authorities in Multnomah county which encompasses most of Portland have announced they will be opening hundreds of new shelter beds in public buildings throughout the city to try and stem the spread of the corona virus in the homeless community in San Francisco I'm Gregg Jarrett Bloomberg daybreak all right great thank you and S. and P. futures are down ninety two points this morning Dow futures down eight hundred twenty one on the nasdaq futures down three hundred twenty eight ten year treasury down twenty four thirty seconds the yield one point one five percent yield on the two year point four seven percent and straight ahead we have the latest world and national news Sam this is Bloomberg.

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