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You are here: Home / Anthology / Current Events / Fed Cuts Rates, Stocks Tank

Fed Cuts Rates, Stocks Tank

March 3, 2020 by Brian Groce Leave a Comment

Is anyone really surprised?

The Federal Reserve’s emergency rate failed to calm skittish investors.

U.S. equity markets tumbled and the 10-year Treasury yield hit a record low after Chairman Jerome Powell explained the intra-meeting rate cut was designed to cushion the economy from any coronavirus-related fallout.

The Dow Jones Industrials sank nearly 800 points or 3 percent and traded in a more than 700-point range, swinging between gains and losses, as investors digested the Fed’s move.

The S&P 500 and the Nasdaq also lost close to 3 percent.

https://www.foxbusiness.com/markets/us-stocks-march-3-2020

Filed Under: Anthology, Current Events Tagged With: Business, Federal Reserve, Stock Market

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