header image

[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather


 
Calendar
Today in
S.C.V. History
December 22
1905 - County buys property to build Newhall Jail (now next to city's Old Town Newhall Library) [story]
Old Newhall Jail


| Friday, Mar 27, 2020
relief package - dow jones nyse march 27, 2020
The Dow on March 27, 2020. | Chart: Yahoo Finance.

 

MANHATTAN — Market losses returned Friday even after the House passed and President Trump signed the $2.2 trillion coronavirus COVID-19 relief package.

The Dow Jones Industrial Average opened to a 3.5% loss, dropping more than 900 points in the late afternoon. By closing bell, the Dow fell to 21,621 points, or about 4% down. The S&P 500 and Nasdaq experienced similar losses.

The week has largely been positive for U.S. investors, despite bookend losses on Monday and Friday. Markets enjoyed a historic rally on Tuesday and kept rising, even in the face of the historical spike of 3.2 million new unemployment claims reported on Thursday.

The Dow is now up more than 2,600 points for the week, thanks largely to the midweek rally, one of the best since the 1930s.

Despite news that the United States now leads the world in total cases of coronavirus, investors were buoyed by the passage of the stimulus package, the largest government aid package in U.S. history.

Speaker Nancy Pelosi had urged members not to object to a voice vote on the relief package, since many representatives have not been able to return to the Capitol to debate the bill.

Representative Thomas Massie, R-Ky., attempted to hold that vote up for a 216-member quorum, but his effort was thwarted, to rounds of applause. “Is it too much to ask that the House do its job, just like the Senate did?” Massie asked in an online statement.

The House then immediately passed the relief package by a voice vote, with only one or two “Nos” echoing through the hall.

Massie, who has a history of being the lone vote against popular bills, received a thrashing by many within his own party for his constitutional objection to the voice vote.

In multiple tweets, President Trump slammed the Tea Party congressman as “a third rate Grandstander” and a “disaster for America, and for the Great State of Kentucky.”

Trump added that Massie “just wants the publicity,” and urged voters to “throw Massie out of Republican party!”

Some Democrats also lambasted Massie.

“Breaking news: Congressman Massie has tested positive for being an asshole,” former Secretary of State John Kerry tweeted. “He must be quarantined to prevent the spread of his massive stupidity. He’s given new meaning to the term #Masshole. (Finally, something the president and I can agree on!)”

The president, who expressed respect for Kerry’s unexpected sense of humor this afternoon, signed the bill during a 5 p.m. press conference.

Cases of Covid-19, the new strain of coronavirus, have more than doubled in the last week, according to data compiled by Johns Hopkins University. The virus has affected more than 576,000 and killed more than 26,000 worldwide.

On Thursday, the United States surpassed Italy and China to take the lead in the number of Covid-19 cases. About 94,000 have been infected by the virus in the United States, while 1,400 have died.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
Vallarta Food Enterprises, headquartered in Santa Clarita, has been ordered by a federal court to comply with subpoenas relating to charges of employment discrimination.
Federal Court Orders Vallarta to Comply with EEOC Subpoenas
Burrtec Waste Industries has partnered with the city of Santa Clarita to establish three convenient locations for residents to recycle real holiday trees this season.
Dec. 26-Jan. 10: Recycle Trees, Wreaths at City Drop-Off Locations
The North American Aerospace Defense Command is ready to track Santa on Wednesday, Dec. 24, Christmas Eve, and is celebrating the program’s 70th anniversary.
NORAD Santa Tracker Celebrates 70th Anniversary
1905 - County buys property to build Newhall Jail (now next to city's Old Town Newhall Library) [story]
Old Newhall Jail
The weather might not be "frightful" yet, but Santa Clarita Valley residents may experience a soggy and cold Christmas Day this year. Rain is expected in the SCV beginning Tuesday, Dec. 23 in the evening and continuing into Friday, Dec. 26
Dec. 22: Burn Ban Day for SCV, Rains Start Dec. 23
1910 - Newhall (Auto) Tunnel opens, bypassing Beale's Cut [story]
Newhall Tunnel
1892 - Benjamin Harrison establishes 555,520-acre San Gabriel Timberland Reserve (Angeles National Forest). First forest reserve in California, second in U.S. [story]
map
The Saugus Union School District Governing Board of Trustees elected Matthew Watson as 2026 board president at the Tuesday, Dec. 16 organizational meeting.
Watson Elected SUSD Board of Trustees President
Los Angeles–based painter Jasimen Phillips is a featured artist in the city of Santa Clarita’s “Pop Culture” exhibition, currently on view at the Newhall Community Center through March 25, 2026.
Phillips Examines Evolving Relationship with Technology in Exhibit
The Gibbon Conservation Center in Saugus is requesting donations, including memberships and gibbon adoption sponsorships to reach a matching goal of $15,000.
Gibbon Center Needs Donations to Meet $15K Match
The Santa Clarita Community College District Board of Trustees failed to complete its annual organizational vote to elect a new board president during its meeting on Wednesday, Dec. 17.
COC Board Fails to Elect New President in Deadlocked Vote
There's no better way to celebrate the season than with toys, treats, and rollercoasters. My annual Foster Youth Holiday Party is one of the most special traditions we do each year
Kathryn Barger | Keeping Up With Kathryn
The Canyon Theatre Guild’s production of "A Christmas Story," adds shows due to high ticket demand. Shows have been added on Sunday, Dec. 21 and Monday, Dec. 22.
CTG ‘A Christmas Story’ Adds Shows, Dec. 21-22, Due to Demand
The city of Santa Clarita will present its latest art exhibition, “Pop Culture,” on view at the Newhall Community Center now through March 25, 2026.
City Presents ‘Pop Culture’ Art Exhibit at the Newhall Community Center
This week’s Foothill League matches resulted in the Saugus boys getting a firmer grip on first place, and the Saugus girls slipping into second place. Meanwhile, holiday tournaments are bringing both wins and losses from non-league teams, with more on the way.
Foothill League Soccer: Saugus Boys, Hart Girls Leading
1970 - Snow day in Santa Clarita Valley [photos]
Saugus train station
Do you have a passion for swimming and a desire to make an impact in your community? The city of Santa Clarita is seeking individuals with strong customer service skills and a commitment to community engagement to join its lifeguard team.
Applications Are Open for the Summer 2026 Lifeguard Season
Santa Clarita Valley residents need to put down the yule log and refrain from all residental wood burning fires on Friday, Dec. 19.
Dec. 19: No Burn Day Alert Issued for SCV, South Coast Air Basin
U.S. Rep. George Whitesides (D-Aqua Dulce), announced the winners of the 2025 Congressional App Challenge for California’s 27th Congressional District: the “MathViz” team led by local Academy of the Canyons student, Gautham Korrapati.
Whitesides Announces 2025 Congressional App Challenge SCV Winners
The Mardi Gras Madness 1K/5K/10K, set for March 1, in Santa Clarita, is more than a race, it’s a celebration of health, community and giving back. Now through Wednesday, Dec. 24, take $10 OFF race registration with promo code WINTER10 at checkout.
March 1: JCI Santa Clarita Holds Mardi Gras Madness 1K/5K/10K Runs
Theatre Extempore will present the all time classic musical The Fantasticks, 8-10 p.m. Jan. 9-11. 15-18 at The MAIN.
Jan. 9: Premiere of ‘The Fantasticks’ Presented by Theatre Extempore
West Ranch High School senior Braulio Castillo (17) never did any long-distance running before high school, but what he has accomplished in that demanding discipline since taking it up is impressive. And, so far his senior year, it is phenomenal.
West Ranch Runner Going the Distance
SCVNews.com