The stock market’s worst-case “Bearmageddon” scenario appears to have occurred, said Mike O’Rourke, chief market strategist at financial brokerage JonesTrading.
On Sunday, the Fed cut its target range for the federal-funds rate to zero to 0.25% from 1.00% to 1.25%, and has now cut the rate by 1.5 percentage points since March 3. The move comes in response to the coronavirus outbreak, which has disrupted economic activity. — Mike O’Rourke, chief market strategist at JonesTrading. The Fed also said it implemented a bond-buying program, known as quantitative easing, of at least $700 billion, and said its open-market desk has recently expanded its overnight and term repurchase agreement operations, known as repos.
Don’t miss: Stock-market futures sink after emergency Fed rate cut -- ‘if this doesn’t work, what will?’
Trump just gave Wall Street almost 2 billion dollars because of the Corona virus affecting the markets? 2 trillion dollars came up missing a day before September 11th! It's all a sham to steal money! They weren't able to start a war with Iran to make $ from war so they took ours
What's worse than impotent?!😂 Trump is so reckless. No prudence whatsoever. Our economy is a guy whose been partying all night, drinking and doing lines. Now it's three am and he's driving home while blowing his last lines. If he wakes up, he'll wish he hadn't.
Yes it has
Intellectually and morally impotent...
They’ve over used it. There is only so much cutting rates can do for a virus anyway so cutting rates just alarms the markets even further.
MY DAD: HUNNY JEROME IS HAVING THIS PROBLEM TOO
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