(Reuters) – Here’s what you need to know about the corona virus:
Craig Cundiff’s “My Child, Our Air” mural is pictured in the Georgetown neighborhood of Seattle as efforts to curb the spread of coronavirus disease (COVID-19) continue in Seattle, Washington, USA, on March 24, 2020 . REUTERS / Jason Redmond
US spending flash; EU tele summit
The big political move of the day will come later in the United States when the Senate votes on a $ 2 trillion package. The House of Representatives is expected to follow soon after. This happened after U.S. senators and Trump advisors finally reached agreement on a massive stimulus package to relieve the economic pressure from the coronavirus outbreak.
The European Union is striving for its own coordinated support package that goes beyond that launched by the individual capitals. The finance ministers of the euro zone have agreed that governments can apply for a precautionary credit line of around 2% of their GDP from a joint EU rescue fund: The last green light is expected at a “telegip” by EU heads of state and government on Thursday .
Handle with care: rocket stocks don’t provide comfort
Those who yearn for a sell-off low in the equity markets may be disappointed to learn that mega rallies with a day since Tuesday are not usually the start of a lasting recovery.
Of the 20 past cases where S&P gained 8% or more in a single day, 13 occurred when stocks faced a bear market.
Your country needs you
Within a few hours of the appeal’s launch, more than 170,000 people have volunteered to help the UK National Health Service fight the coronavirus outbreak.
“People come together in times of crisis,” Stephen Powis, NHS England’s national medical director, told BBC TV. “This is a health emergency and we can all play a role.”
Britain had asked 250,000 volunteers to deliver food and medicine, to transport patients and supplies, and to call those who became lonely due to their self-isolation. The NHS faces a major resource shortage that will only worsen with the spread of the virus.
According to a Reuters balance sheet on Tuesday at 2:00 p.m. GMT, over 420,000 coronavirus cases were reported in 196 countries. Almost 19,000 deaths are associated with the virus.
Italy reported over 5,000 infections last day, and the total number of infections is now almost 70,000. Italy will overtake China’s 81,000 drop burden within a few days if the infection rate continues at this rate.
The United States now has the third highest number of cases worldwide after adding nearly 11,000 cases last day. The WHO warned that it could become the virus’ new epicenter.
The cases in India crossed 500 for the first time on Tuesday when the world’s second most populous country began a three-week ban.
(For an interactive graphic to track global distribution, open tmsnrt.rs/3aIRuz7 in an external browser.)
Stop press: Vatican stopped daily
The Vatican daily L’Osservatore Romano, which Pope Francis jokingly referred to as the “party newspaper”, has stopped printing for the third time in almost 160 years.
The newspaper, founded in 1861, will continue to be published online and most of its approximately 60 employees, including 20 journalists, will work from home, said editor Andrea Monda.
The paper was not published on September 20, 1870, when forces fighting for Italian unification conquered Rome and the publication was suspended for a period in 1919 due to labor unrest and other difficulties in Italy after the First World War.
Ten copies will continue to be printed. They are for Pope Francis, the former Pope Benedict, some high-ranking officials and some who are to be archived for historical record.
Compiled by Mark John and Karishma Singh; Edited by Gareth Jones