Stocks briefly halted for trading as markets plunge even as Fed intervenes to calm markets

U.S. stocks plunged Monday and were briefly halted for trading after the Federal Reserve took emergency action to cushion the economy from the coronavirus pandemic that is shutting down global business and travel.

The Dow Jones Industrial Average plunged more than 2,700 points and the benchmark Standard & Poor's 500 index dropped more than 7% — briefly triggering an automatic shock absorber for 15 minutes after the opening bell — after the central bank cut interest rates and launched a fresh round of crisis-era bond purchases. This marked the third time in a week that circuit breakers were set off during regular trading hours following sharp losses.

“Investors aren’t happy because these rate cuts won’t stimulate the economy in the near term. You can’t stimulate demand if everyone is stuck in their house,” says Shana Sissel, director of investment due diligence at Orion Advisor Solutions. “This isn’t a financial failure. This is a global pandemic that affects everyone across the globe. The quickest way to ramp everything back up is to provide them with a safety net in the meantime.

“If people are forced to stop working, they still have to pay rent at the end of the month,” says Willie Delwiche, an investment strategist at Baird. “This is a much bigger problem with an unknown solution than we’ve ever had in the past.” Investors were anxiously awaiting an aid package from Washington that investors hope can help cushion the economy from the slowdown in economic activity. The Senate is expected to vote Monday on legislation to provide economic relief to Americans affected by the deadly coronavirus pandemic. Trump said Friday he would support the sweeping measure.

I propose different Fiscal Policy stimulus to help the economy rebound and avoid recession. I propose a Zero Federal and State Income Tax for this year. Many people did not file their income tax so they can be exempted and those who have filed gets a refund of what they have pay.

😫😢

The stock market may be the only large casino open today...

This is same picture they used last week this should just be the face of the market for awhile

I would think it would be a great time to buy stocks

Bunch of sick F***ks on here who think this is funny.

My first reaction was to tell him to stop touching his face....

This never happened under Obama not once, twice, or thrice.

You mean a falsely created overheated economy isn’t responding to interest cuts when the rate was already absurdly low......who saw that coming? 🤔

Lol party's over fellas.

But, but, donny said Friday the market closed up a record climb for the day and everything was okay. You mean he knows nothing about how the market works?

Whoopsies

Thanks Donald

Quit touching your face!

The people from Bellevue need to move in quickly and get those who are insane off of the floor of the New York Stock Exchange and those who are out there selling like they have lost their minds...

No worries.... Greed will come back and save us....

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!

😀😀

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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 »

A new “Black Monday”—oil and stocks plunge amid coronavirus concernsOn the new “Black Monday”, oil prices crashed, stocks slumped and trading was halted on Wall Street. chowardchoward and our Buttonwood columnist explain what sparked the crude oil price war in “Money Talks” chowardchoward SuddenStop feraagra jorgearturosaza
Source: TheEconomist - 🏆 6. / 92 Read more »

Stocks crumble, unconvinced as Fed and peers attempt radical rescueStock markets and the dollar were roiled on Monday after the Federal Reserve sla... Why not close Wall Street for a few days as acting more like anxious gamblers than educated financial folks SYDNEY () - Stock markets and the dollar were roiled on Monday after the Federal Reserve slashed interest rates in an emergency move and its major peers offered cheap U.S. dollars to ease a ruinous logjam in global lending markets. coronavirus
Source: Reuters - 🏆 2. / 97 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 »

Stocks and Bond Yields Slide After Fed Slashes RatesU.S. equity futures and global stocks tumbled after the Fed slashed its benchmark interest rate to near zero, a sign that investors remain worried that the coronavirus will fuel a recession even with borrowing costs dropping. Trumpy says to relax... The cut made by the Fed certainly shocked many. And of course investors and foreign markets are still concerned about the Coronavirus. The Fed alone isn't capable of revering a global shock such as this. QE is a curse.
Source: WSJ - 🏆 98. / 63 Read more »