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Live updates: Senate passes $2.2 trillion emergency relief package; Much of the world is under coronavirus lockdown

The Senate unanimously passed a $2.2 trillion emergency relief package late Wednesday, concluding a grim day in which health departments around the United States reported more than 200 coronavirus-related deaths.

The bill would deliver historic levels of emergency aid across the economy, including to households, businesses, cities and states. It would expand unemployment insurance benefits and direct more money to cash-strapped hospitals. The package now goes for consideration to the House of Representatives, which is expected to vote on it Friday. President Trump has said he is eager to sign it.

Much of the world’s population from Europe to Africa to Latin America is living under some kind of coronavirus-related restrictions. While financial markets have recovered some footing in recent days after huge losses this month, investors remain anxious about the long-term economic damage from prolonged shutdowns of the world’s productive capacity, with recession appearing certain. Asian markets were mixed on Thursday.

Here are some significant developments:

As of Wednesday evening, more than 900 people in the United States had died from complications of the virus, according to tracking by The Washington Post.
Lawmakers and the White House were bombarded by lobbyists and special interest groups seeking assistance during the negotiations over Congress’ package, and the price tag rose from $850 billion to $2.2 trillion in just a matter of days.
In the United States, upwards of 13,000 new cases were reported since Tuesday, bringing the nationwide total to more than 67,000 cases, while testing capacity still remains comparatively limited.
The national death toll in Spain surpassed 3,400, making it the world’s hardest-hit country after Italy.

Source: washingtonpost

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