Australia share benchmark, US futures sink as crisis deepens

U.S. futures have declined and Australia’s share benchmark plunged 8.5% as work on more stimulus for the U.S. economy hit snags in the U.S. Senate.

However, Japan’s Nikkei 225 index held steady, gaining 0.4% in early trading Monday.

Top-level negotiations between U.S. Congress and the White House continued after the Senate voted against advancing the $2 trillion economic rescue package.

Markets opened to an altered business landscape as lockdowns and closures intended to halt the spread of the new coronavirus expanded to include many cities around the world and the number of people infected surged past 300,000.