In Hong Kong, the Hang Seng index fell heavily by 4.86% at the close to 21,696.13 points on Monday. The Shanghai Stock Exchange ended down 3.11% to 2,789.25 points and that of Shenzhen down 4.26% to 1,631.88 points. The economic impact of the Covid-19 pandemic, whose toll exceeds 14,000 deaths worldwide, is rocking world markets.
Despite intense negotiations, the White House, the Republicans and the Democrats of the Congress could not agree Sunday to reach a first vote on a gigantic plan of support for the American economy. This vote was eagerly awaited. “The markets will plunge tomorrow (Monday), and the savings of millions of Americans with it,” responded Republican Senator John Cornyn after the surprise failure of this procedural vote on a bill to mobilize up almost 2,000 billion dollars.
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The Chinese stock markets effectively opened Monday in the red: the Hang Seng index in Hong Kong lost 5.02% while the Shanghai Stock Exchange yielded 2.38% and that of Shenzhen 2.36%. The Tokyo Stock Exchange was an exception, however, drawing its salute from the weakening of the yen and the take-off of SoftBank Group, carried by an XXL plan of asset sales and share buybacks.
Continuation of negotiations
Negotiations were already continuing behind the scenes to reach a compromise demanded by Republican President Donald Trump. “We are working urgently with Congress to support the millions of workers, small businesses and industries who have been hit hard by the virus when they have done nothing to deserve it,” Trump said from the White House. , during the vote.
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“This will help our economy and you will see it take off once it is all over,” he said, while refusing to advance a date for the restart of activity.
The crisis worsened in the United States as the pandemic progressed, with for the first time more than 100 deaths in 24 hours, bringing the total toll to more than 410 dead Sunday evening and at least 33,000 people infected.
The Covid-19 did not spare Congress, where a first senator announced Sunday that he had tested positive when he had just rubbed shoulders with several colleagues. Two members of the House of Representatives announced in the week to be reached. In all, five senators were in voluntary quarantine on Sunday.
Field hospitals
The pandemic therefore cast doubt on the future holding of votes in Congress. If Donald Trump said he was in favor of organizing a remote vote, the idea is complicated to implement in a Congress governed by strict rules.
Donald Trump also announced Sunday that he has ordered the emergency setting up of field hospitals, with a total capacity of 4,000 beds, in the states most affected by the coronavirus: California, New York and Washington.
New York Democratic Mayor Bill de Blasio had previously called for respirators: “If the President does not act, people who could have lived will die.”
Over a third of Americans are subject to varying degrees of confinement, especially in the country’s three largest cities (New York, Los Angeles, Chicago).
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