Cineworld Shares Fall 56% in Coronavirus Closings

[Day Herrera Hernandez 111]

Beyond Trump, the coronavirus continues to create uncertainty in the United States and abroad.

 

On Monday, New York continued with the gradual closure of infrastructures, while in Europe, the worsening rate of infection caused Paris to close certain establishments.

Meanwhile, Cineworld, the world's second-largest cinema chain, said it would shut down all of its operations in both the United States and the United Kingdom until further notice from October 8. Its shares subsequently sank 56% to a new all-time low.

 

However, rumors abound that Trump's situation may in fact spur both political camps in Washington to reach a stimulus agreement, something that would have an immediate impact on markets.

 

As Cointelegraph reported, Treasury Secretary Steven Mnuchin had already allayed fears of continued stagnation by confirming that whatever happens, the package would include another $ 1,200 worth of stimulus check for eligible Americans.

 

The long-term impact of state-sponsored revenue is itself controversial, as commenters had previously argued that once implemented, the checks would be difficult to simply "turn off."

By the time the first round of checks arrived in April, cryptocurrency exchanges noticed a surge in volume specifically in the amount of payments of $ 1,200.