Global stocks slide despite a historic $900 billion US stimulus package deal as threat of new virus strain in the UK casts gloom
- Date: 21-Dec-2020
- Source: Business Insider
- Sector:Financial Markets
- Country:Middle East
Global stocks slide despite a historic $900 billion US stimulus package deal as threat of new virus strain in the UK casts gloom
REUTERS/Brendan McDermid
Global stocks slid on Monday despite US lawmakers agreeing to a $900 billion stimulus deal, as investors eyed the threat of a new COVID-19 mutation in the UK.The federal assistance package includes $600 in stimulus checks and $300 in unemployment aid for every individual, both of which are half the $1,200 amount approved by Congress and President Trump earlier this year.Britain has been forced into a harsh lockdown right before the holidays, casting a gloomy outlook for the international travel industry. Several countries have banned incoming flights from the UK as the new COVID-19 strain is said to be 70% more transmissible than the original virus.Visit Business Insider's homepage for more stories.
Global stocks fell on Monday despite US lawmakers striking a long-awaited deal on a historic $900 billion stimulus package over the weekend, as concerns over a new COVID-19 strain in the UK threatens the travel industry.
Futures tied to the Dow Jones, S&P 500, and Nasdaq fell between 0.4% and 0.6%.
Meanwhile, the new sly struck US federal aid includes checks of up to $600 for every individual and $300 in unemployment aid per week, both of which are half the $1,200 amount that Congress and President Donald Trump approved