The Fed Steps In, But Stock Market Meltdown Continues

After weeks of turmoil over the economic toll of the coronavirus, U.S. stock indexes entered a bear market, signaling an end to their 11-year winning streak.Bryan R. Smith/AFP via Getty Images

After weeks of turmoil over the economic toll of the coronavirus, U.S. stock indexes entered a bear market, signaling an end to their 11-year winning streak.Stocks recovered some of their losses after the Federal Reserve moved aggressively Thursday to try to calm investors rattled by the global coronavirus pandemic, but then the market slide continued. The New York Fed said it would pump $1.5 trillion into short-term funding markets over the next two days.

"These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak,"The Dow Jones Industrial Average bounced up more than 800 points from its low, but then quickly fell again. It was down 1,900 points, or 8%, in frenzied afternoon trading.Last week, the central bank cut interest rates by a half a percentage point in an emergency move.

Those indexes are now down at least 24% from record highs set just last month. At 22,074.10 in early afternoon trading, the Dow was down more than 7,400 points from its peak Feb. 12. The market tumble came after President Trump announced a 30-day ban on travel from European countries to the United States.

Thankfully they only flushed $1.5T into this spiraling catastrophe. I mean tax cuts? Amirite?

we'll bail out wall street but not our own people 🤦‍♂️

Testing positive helps with case tracing and can prevent future spread of the virus!

they can just PUMP money into the stocks?

Check again

So glad to see the Feds pumping money into the pockets of the Americans who need it the mo—oh, 🤬. I’m sure it’s coming to the people next, since it’s our tax money and all. I’ll just wait here to find out what exec authority Trump will use to get relief to the people.

Are crackhead monkeys in charge or trading? What’s going on over there?

Let the correction happen already. There is no quantitative easing left to fix it! We are overdue for a recession--keep applying band-aids and we are going to get walloped!

Where does this money come from?

Corona Virus will be a thing of the past within 30 days. Stock Market will rally to 30,000 by Aug. Trump train 2020 will be unstoppable 🤨

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