The Dow Jones Industrial Average surged to its best day since 1933 as Congress and the White House neared a deal on Tuesday to inject nearly $2 trillion of aid into an economy ravaged by the coronavirus.
US Federal Reserve announced that it is dropping its benchmark interest rate to zero and launching a new round of quantitative easing entailing USD 700 billion worth of asset purchases of Treasurys and mortgage-backed securities.
China's policymakers will strike a balance between containing the novel coronavirus pneumonia outbreak and facilitating the resumption of regular business activities as a prolonged economic standstill could trigger greater risks, economists said.