Johannes Eisele/AFP via Getty ImagesThe stock market plunged again on Monday, with steep losses triggering an early halt in trading even after the Fed’s massive interest rate cut did little to stem Wall Street fears over slowing economic growth due to the coronavirus pandemic.
The Dow Jones Industrial Average was down almost 10% on Monday morning, while the S&P 500 and Nasdaq dropped by over 8% and 6%, respectively., halting trading soon after opening: Pre-market futures showed that would happen, with all three major indexes hitting their limit-down levels of 5% or lower.and announced that it would purchase $700 billion in government debt in an extraordinary effort to stabilize the U.S. economy.
The new target benchmark for the federal funds rate is now at its lowest level since 2015, sitting betweenIn a press conference on Sunday night, Fed chair Jerome PowellThe move comes after the Fed said last Thursday that it would into the overnight repo market—a bid to preserve liquidity in the banking system—as coronavirus continues to roil markets.While investors have been trying to gauge the economic impact of the coronavirus pandemic, one of the first indicators is a
from the New York Federal Reserve, which shows business conditions falling to their lowest level since 2009. The decline from February to March was the largest on record.“Stocks are suffering enormous losses so far this morning as a series of emergency central bank measures failed to stabilize sentiment,” according to Vital Knowledge founder Adam Crisafulli.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
StephGraceBrown
wow, it's the great trumpression... Good thing I got baby wipes since all the toilet paper was gone... I hope someone bought stock in toilet paper.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market outlook: Save cash for stock shopping list - Business InsiderMaking a detailed 'shopping list of stocks' will help investors avoid panic selling during the coronavirus outbreak, strategist Rich Steinberg said. We used all of that cash for toilet paper. I guess we weren't brave enough ghosts this time. Maybe next crisis!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market crash: Hedge fund strategy fails, could change investing - Business InsiderA popular trading strategy that preserves hedge funds during stock-market crashes just failed — and Morgan Stanley warns it could change investing as we know it Because you are thinking the traditional way ie everybody follow the rules but in reality one big player is not. They control their stock market and do whatever they want. Everyone lost except them! All analysis or predictions are garbage!
Source: BusinessInsider - 🏆 729. / 51 Read more »
Plunging stock market futures hit 'limit down' — Here's what that meansContracts on the S&P 500 dropped 5%, reaching a 'limit down' band that made by the CME futures exchange to prevent further losses. I'm confused on the FUTURES limit down. Could you please explain that for the novice. Thank you.
Source: CNBC - 🏆 12. / 72 Read more »
This is a wounded, fragile stock market raging for a proper policy responseCNBC's Michael Santoli surveys the market wreckage. Maybe people need to understand that tax cuts and monetary stimulus is not the answer right now. Seeing the virus cases decline and people going back to their normal lives will be what causes the market to find a bottom. Certainly not politicians. This market has been shot and its in the emergency room next to someone who has covid-19 Such as?
Source: CNBC - 🏆 12. / 72 Read more »
Stock market live updates: Futures hit 'limit down,' ETFs point to massive losses at the open“Markets should continue to function through times like this,” SEC Chair Jay Clayton says. He adds that “health and safety is paramount.” The market should wash its hands and social distance if it doesn’t want to spread the virus. Hopefully they will halt the markets for next few weeks with this fake hysteria, The WS white collar Taliban and their Russian programmed algos gone wild, while retiree investments are getting wiped out, I warned algos were national national security threat years ago.. JoeSquawk Why does CNBC always bring Navarro on the show? He doesn’t answer any questions, all you get is campaign rhetoric
Source: CNBC - 🏆 12. / 72 Read more »
Coronavirus and market volatility shuts down the IPO market for potential listings like AirbnbThe initial public offering calendar is looking sparse this year, with many road-show ready companies pumping the brakes. Airbnb IPO ! A referee once stopped a fight between Mike Tyson and some other guy telling that other guy ' wontcha come back some other time , huh ?! '
Source: CNBC - 🏆 12. / 72 Read more »