SLOVENIA
Govt announces EUR 2bn stimulus package for economy
The government has prepared a package of economic stimulus measures worth roughly EUR 2 billion to keep society running during the coronavirus crisis. The measures include loan guarantees for companies, purchase of claims to companies, co-financing of social contributions, temporary basic income for the self-employed and allowances for pensioners. (STA)
INTERNATIONAL MARKETS
Dow sheds another 3% after coronavirus stimulus bill fails in Senate for a second time; European markets close lower amid coronavirus jitters; Stoxx 600 down 4.4%
Stocks fell sharply on Monday as U.S. lawmakers failed to push through massive fiscal stimulus to curtail the economic blow from the coronavirus. Talks are ongoing, but investors believe the longer Washington waits, the greater the damage to the economy.
The Dow Jones Industrial Average closed 582.05 points lower, or down 3.1%, at 18,591.93, its lowest closing level since November 2016. The S&P 500 slid 2.9% to 2,237.40. The Nasdaq Composite was down just 0.3% at 6,860.67 as investors began making small bets on technology stocks.
Boeing shares rose 11%, outperforming the market, as Goldman Sachs made a bold call Sunday evening, telling clients the company had enough cash to survive the coronavirus downturn and that air travel would eventually return. The shares are off 66% this year. The aerospace giant also suspended its dividend.
European stocks closed lower on Monday as the coronavirus outbreak continued to weigh on global financial markets. The pan-European Stoxx 600 provisionally closed 4.4% lower. Travel and leisure stocks plummeted over 7%, while the oil and gas sector eked out a 0.9% rise after the U.S. Federal Reserve announced an aggressive asset purchase program to support markets.
Royal Dutch Shell announced Monday that it would cut its 2020 spending by $5 billion and suspend its share buyback in a bid to weather the recent collapse in oil prices. (CNBC, Ilirika)
