Stock market news live: Stocks plunge, trigger circuit breaker after Fed unveils emergency stimulus

Markets are in for another rollercoaster week, as policymakers continue to ramp up their responses to the global coronavirus outbreak.

Federal Reserve rate cutStock futures opened sharply lower Sunday evening, even after the Federal Reserve launched a massive monetary stimulus program — including cutting rates to effectively zero and unveiling plans for large-scale asset purchases. The Fed also unleashed a further set of tools to address economic impacts arising from the COVID-19 pandemic, announcing a quantitative easing program that would include purchases of $700 billion in assets, comprising $500 billion worth of treasuries and $200 billion in agency-backed mortgage securities.

Story continuesIn Congress, the House of Representatives passed a bipartisan bill to help provide further support in response to the coronavirus. The legislative package, which passed with a vote of 363-40, broadens access to free testing, expands sick leave benefits and helps provides food aid for vulnerable populations, including children whose schools have closed due to the coronavirus.At the state level, the response has escalated with each passing day.

U.S.-based companies have also increasingly announced retail closures in effort to encourage social distancing among consumers, and as states including California and New York announce bans on public gatherings of large numbers of people. Goldman Sachs sees potential for the S&P 500 to drop to 2,000, down 41% from the all-time high, before rebounding to end 2020 at 3,200 as the impact of the coronavirus roils markets.

The biggest stock market drop ever by any president something to put on trump's portfolio

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Stocks briefly halted for trading as markets plunge even as Fed intervenes to calm marketsStocks plunged Monday as the Federal Reserve took emergency action to cushion the economy from the coronavirus pandemic. 😀😀 Well as things are moving along there will come a day when every equity on the Dow will be penny stocks Myself I’d like to see the DJI fall to 10,000!
Source: USATODAY - 🏆 100. / 63 Read more »

Stocks poised for more losses Monday even as Fed intervenes to try to calm marketsStock futures plunged Monday and were halted for trading as the Federal Reserve took emergency action to cushion the economy from the virus pandemic. Of course. The fed did this because the economy is in horrible shape, so it only makes sense the stock market will take a nosedive. way to go, Trump. Recession: “Here I come!” Pumping money into the STOCK MARKET ONLY HELPS THE VICIOUS RICH. Remember Trump's Massive Vicious Rich Republican Tax Cuts were PROMISED TO GIVE US A BUDGET SURPLUS and didn't. Now Trump says he has to steal from Nana to pay the bill.
Source: USATODAY - 🏆 100. / 63 Read more »

Australian stocks down more than 6% as Fed cuts rates to zeroThe U.S. Federal Reserve slashed its benchmark interest rate to zero and launched a massive quantitative easing program in an emergency move on Sunday. Daar gaat Australië. GOD'S Justice Department it's hard but it's Fair...SOUL_POWER FED SLASHES INTEREST RATES NEAR ZERO TRUMP STILL CLUELESS ACTS LIKE NERO
Source: CNBC - 🏆 12. / 72 Read more »