U.S. stocks suffered their worst session of the coronavirus crisis Monday, with scores of companies posting double-digit percentage declines.
The Federal Open Market Committee on Sunday cut the federal funds target rate by 1% to a range of zero to 0.25%, jumping ahead of its regularly scheduled meeting that was set to begin Tuesday but was canceled. For the Dow and the S&P 500, Monday marked the third-worst trading session ever. The Nasdaq Composite Index COMP, -12.32% ended the day with a loss of 12.3%, its worst-ever one-day decline.
Goldman Sachs predicted the U.S. economy would shrink during the second quarter and that their forecasts indicated a recession was likely.
Jump start energy to break up initial momentum can be define as economic boost for who are eligible, same as to start up new business because it is government investment to collect later, once business earn profit then it will overflow to government Treasury.
CLOSE THE MARKETS
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Source: TheEconomist - 🏆 6. / 92 Read more »