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Will accept junk, recent fallen angels as collateral. Time now for todays market moving news from brussels in new york. We want to begin in europe, where the pandemic drove the economy to a record slump in april. Pmi Area Services completely decimated, falling to 11. 7. Manufacturing also dropped to 33. 6. Bloombergs maria tadeo joins me from brussels. Maria what you are seeing is that the Coronavirus Crisis is going to do a lot of damage to the european economy. [indiscernible] brussels tell us they do anticipate a contraction for the entire euro area. This is potentially huge. Youre seeing again the European Central bank stepping in to try to shield some of those markets, in particular in countries like. Taly ,he other side of the equation what exactly are european leaders going to do to help the ecb, to put more ....
Market. In the we want to begin in washington, where the u. S. Passed a record 2. 2 trillion economic rescue package. The house will vote potentially on friday. Going this is kevin cirilli. Walk us through some of the highlights here. Kevin shortly before midnight, the senate, in a resounding 960 trillionsed the 2 economic stimulus bill. That puts pressure on the house of representatives to get this done quickly. Theres been some comments from farleft progressives and far right republicans that they may have some issues with this version of the bill. I do not it is about that being enough to significantly stop this from being passed, based upon my reporting. I can tell you that the likely vote will come friday, and President Trump has said he is going to sign this virtually immediately once it lands on his desk. Alix thanks so much. As i mentioned earlier, europe really stepping up its effort to deal with the fallout from the cor ....
Detention they are playing out within markets. Time now for todays top market moving news from washington and new york. We want to begin in washington, where President Trump extended his National Warning for social distancing in the United States until the end of april, abandoning his easter goal. Pres. Trump we can expect that by june 1, we will be well on our way to recovery. We think by june 1, a lot of great things will be happening. That was aspirational when i said easter. I said it would be great if we could do it by easter. Alix joining me from washington is kevin cirilli. What did we learn in terms of how the government is looking at the lockdown in the u. S. . Kevin President Trump has significantly backed off the claim that he would be able to get life ....
It is time for the global exchange, where we bring you todays market moving news from around the world. Joining us on the phone from hong kong is karen leigh, from plus guytuart wallace, johnson, and bloombergs dani burger, and here in new york, bloombergs michael mckee. And hong kong, thousands marched through the citys financial district after demonstrations turned violent lester day violent yesterday. Karen leigh has the latest. They firedce saying more than 1400 rounds of tear gas at protesters yesterday, the 70th anniversary of communist party rule in china. People here came out to protest on that day. To give you an example of how big a number that is, that is more than half of the total number of tear gas rounds that have been fired over almost four months of protests. So a pretty big usage by the lease. We saw a lot of violence here yesterday. We saw a definite escalation when a protester was shot by live ammunition for the first time, something people here have been worried ab ....
The various things that they make, and i said that thats okay that we will keep selling that product. China logs the highest close since the end of april hopes rise for an end to the u. S. china trade war Deutsche Bank shares also jump as sources tell cnbc the german lender will consider up to 20,000 job cuts as part of a Major Overhaul and crude extends its gains after iran signs off on a saudi russian plan to continue production cuts, but some Oil Ministers are unhappy the decision was made without them if opec wants to be alive, should decide inside opec, not to receive their instruction from outside to bring you the latest numbers from the eurozone in terms of manufacturing pmi the month of june, final numbers, they have come in at 47. 6 that is against the preliminary number of 47. 8 and thats against the 47. 7 number ....