FirstFT: Today’s top stories
Republicans and Democrats have struck a $2tn deal to provide economic relief to taxpayers and businesses from the coronavirus crisis, in what would be the largest congressional bailout in US history. Senate majority leader Mitch McConnell had been wrangling with Chuck Schumer, the Senate’s most senior Democrat, since Saturday over Republicans’ proposals, which includes bailouts for large companies and means-tested “helicopter money” for US taxpayers. US stocks enjoyed their best day since the 2008 financial crisis on Tuesday in anticipation of the deal: the S&P 500 closed up 9.4 per cent and the Dow Jones Industrial Average 11.4 per cent, its best one-day gain since 1933.
Published:3/25/2020 2:20:22 AM