The S&P 500 plummeted 9.5% in its worst day in more than three decades Thursday, joining the Dow in a bear market, or more than 20% from its recent peak. The Dow also suffered its worst point drop ever and the biggest percentage decline since 1987.
The market's historic drop on Thursday indicated that investors believe the government's fiscal plans and the Federal Reserve's ramped-up funding actions wouldn't be sufficient to offset the economic impact from the coronavirus. Stocks briefly cut losses Thursday after the Fed said it would conduct three repo operations as part of a stepped-up program to help keep liquidity flowing. The central bank added more than $198 billion to the financial system in a combination of overnight and longer-term offerings. But the market ended up closing at session lows.
Investors were also bombarded with a slew of negative headlines about the fast-spreading coronavirus. The NCAA has canceled its March Madness basketball tournaments, a day after the
Friday 13th...
turn around Friday the 13th ? anything possible with vix at 60
No! Really? Will the NY Fed waste another 1.5 trillion on it?
Hey dude in the picture! Get your damn hand out of your mouth
Watching the rich squirm over the market crashing makes me giddy. Most of us dont have shit let alone stocks lmao.
Why would the market go up? No sports, everyone is afraid I can see the Dow Jones going under 10,000 again What is the stimulus when everyone is at home?
Disney’s announcement came after the close.
Capitalism is a shambling corpse
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Source: CNBC - 🏆 12. / 72 Read more »