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Global stocks suffer historic rout, shrugging off central bank steps

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The Dow suffers its worst session since 1987 on Thursday, March 12. coronavirus

continuing to grow worldwide, Wall Street was buffeted by a series of announcements suggesting activity in the world's biggest service-driven economy could slow to a trickle.

"Bottoming is a process, it's not a one-day process," said Quincy Krosby, chief market strategist for Prudential Financial. , which exacerbated already brittle relations between Washington and Brussels and battered airlines on both sides of the Atlantic. "Eschewing the old-fashioned and arguably ineffective approach of headline rate cuts, it has instead gone for more QE and a direct loan program for small businesses," said market analyst Chris Beauchamp of online trading firm IG.

 

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