Wall Street Comes Up With a Wish List to Stem Coronavirus Pain
- Help for small business, furloughed workers among suggestions
- ‘We need to see follow-through’ from government: Ryan of UBS
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Wall Street investors, still reeling from market turmoil created by the coronavirus, are proposing an array of measures to help ease the economic pain brought on by the outbreak.
With U.S. cases of the virus increasing past 860, President Donald Trump said Tuesday he wants a payroll tax holiday and that his administration is preparing “substantial” economic measures to offset the financial turbulence. That would follow the Federal Reserve’s emergency step to cut interest rates by 50 basis points last week -- a move that failed to calm traders. The sudden shock of an oil price war that erupted between Saudi Arabia and Russia exacerbated the U.S. stock market’s wild gyrations.