US Senate Minority Leader Schumer: $150 billion for state and local governments in relief bill

The coronavirus legislation package includes $130 billion for the health care system, US Senate Minority Leader Chuck Schumer announced on Wednesday, per Reuters.

Schumer further added that there will be $150 billion dedicated to state and local governments in the package.

Market reaction

The S&P 500 futures, which lost more than 1% earlier in the day, retraced a portion of its drop and was last down 0.5% on the day. Meanwhile, the 10-year US Treasury bond yield was erasing 2% at 0.845%.