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US stocks have just recorded their biggest weekly gain since 1974 despite the bleak economic outlook.
Wall Street’s S&P 500 shares index has risen 12% this week, as the US central bank announced more stimulus measures to support the economy.
Financial markets have experienced extreme volatility as the economic impact from the coronavirus worsens.
Gold prices hit a seven-year high with many investors still remaining cautious about the future of the global economy.
The strong words came after data showed US jobless claims jumped by 6.6 million, taking the three-week total to more than 16 million unemployed and seeking benefits, reports BBC.
(DS)
