US stock markets have been falling in the early hours of trading, a reverse in fortunes after Wall Street’s best three-day rally since 1933.
Markets were boosted earlier this week after the US Senate voted unanimously for a $2 trillion economic relief package. Today the bill is being voted on in the House of Representatives which – unlike the Senate – has a Democrat majority.
The subsequent rally was pushed largely by a buy-up of shares in firms set to benefit most of the relief package, including airline companies.
But investor confidence in America appears to be waning, despite a rise in several Asian markets earlier on Friday. At the time of publishing, the S&P 500 plunged by 3.5%, and the Dow Jones by over 4%.
Markets in Europe have also seen drops of 2-4%.Article share tools