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Stocks are tumbling again as investors worry Fed’s first emergency rate cut since 2008 is no cure for coronavirus slowdown

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Stocks are tumbling again as investors worry Fed’s first emergency rate cut since 2008 no cure for coronavirus slowdown

U.S. stocks declined and Treasuries surged as investors worried the Federal Reserve’s emergency cut won’t be enough to combat the economic impact of the coronavirus.

The two-year Treasury yield tumbled to 0.74 per cent, while the 10-year plunged toward 1 per cent. Banks led losses on equity benchmarks. Investors had piled out of risk assets last week as the spreading virus threatened to derail global growth, only to pour back in Monday in anticipation of concerted action from Group of Seven officials. Oil continued its rebound Tuesday, approaching US$48 a barrel, while gold also rose. The yen was higher versus the dollar.

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Called it

Call me crazy but I'm thinking the virus doesn't care about interest rates.

Our economy is very brittle.

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