Coronavirus: UK stocks fall despite stimulus plans


UK stocks have fallen as major UK and US stimulus plans failed to quell worries about the coronavirus pandemic. The FTSE 100 index of top UK companies fell more than 4.7% in early trading, with aerospace firms, travel companies and housing firms leading the declines.

It came after Wall Street’s main indexes rebounded by more than 5% on Tuesday following Monday’s steep falls. In the US, the Trump administration outlined a $1 trillion (£830bn) package to support the world’s biggest economy.

And on Tuesday UK Chancellor Rishi Sunak revealed more stimulus measures for UK firms, including £330bn of business loans. It includes £20bn in other aid, a business rates holiday, and grants for retailers and pubs. Help for airlines is also being considered.

Mr Sunak told a news conference that it was an “economic emergency. Never in peacetime have we faced an economic fight like this one.”


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