Corona reality: 10% of Americans are unemployed, but government continues to optimize • Fury against China: "Attempt to manipulate the market"
Trump with Jinping on better days // Archive photo: Reuters
Wall Street has surged in the last two days after the US Federal Reserve announced a new dramatic $ 600 billion incentive package for intermediate businesses.
Photo: Reuters
On the day of trading, the Dow Jones Industrial Average jumped almost 3.5%, and yesterday's trading session saw another index increase of more than 1.5%, which was replaced by slight declines later. The increases this week were recorded despite the release of the first week's hard unemployment figures: Nearly 10% of Americans are unemployed, after the addition of more than 6.5 million people to the unemployment cycle, following the Corona. In the last three weeks alone, about 17 million Americans have filed unemployment benefits.
The S&P 500 jumped more than 10% to just a few hours before yesterday's New York trading trend changed - only 18% from its February high. The Nasdaq closed an excellent week and at the same time it was only 10% from the start of the year. Europe's markets responded yesterday to about 2%, including the London Stock Exchange, even though the UK released data showing that the sharp slowdown in growth there began even before the downturn from Corona , Mainly due to the winter blemishes there.
Despite the data, US Treasury Secretary Steve Menuchin is showing optimism. "Some places like New York are very worrying, but in other areas the corona's impact is smaller," said Menuchin in an interview with Fox Network.
US Treasury has also strongly criticized China, the source of the Corona virus, stressing that the current crisis will provide an incentive to free economic dependence on China, which now produces a significant portion of the drugs and other essential means for Americans.
Another Trump administration official, Peter Navarro, makes more hawkish statements to the regime in Beijing. Navarro, Trump's trade adviser, blamed the Chinese for attempting to fraudulently conceal the dimensions of the Corona epidemic from the world and exploited this interval, they claim, to be equipped with a lot of protective equipment.
"We'll take account of China"
He said China used the matter to exert economic and political pressure as soon as the virus spread. In the Chinese round the world has succeeded, and recently it was reported that in the past month, China sold 4 billion face masks, close to 40 million other safeguards and about 16,000 respirators. "The Chinese have been trying to manipulate the global market," Nabaro told Fox.