Another foul day on Wall Street after surprise Fed rate cut

- Wall Street tumbled in a volatile session on Tuesday after the U.S. Federal Reserve surprised investors with a half percentage-point cut in interest rates, amplifying fears about the magnitude of the coronavirus’ impact on the economy.

Stocks had initially jumped more than 1%, but then dropped as traders worried whether pumping more money into financial markets would address the central problem - a drop in business activity as workers and consumers stay home. The 10-year Treasury yield fell below 1% for the first time ever as nervous investors moved money out of the stock market.

Traders work on the floor at the New York Stock Exchange in New York, U.S., March 3, 2020. REUTERS/Brendan McDermid The Dow Jones Industrial Average dropped 2.94% to end at 25,917.41 points, while the S&P 500 lost 2.81% to finish at 3,003.37.Like other recent sessions, volume was heavy on U.S. exchanges, with 14.7 billion shares changing hands compared with a 9.8 billion-share average for the last 20 days.

The koolaid was so sweet, it was undrinkable

Desperation reeks.

Good times. Image how much America will borrow when recession hits. The virus 🦠 is going to get 🇺🇸 there faster. Trump is going to lose his mind as he’s tagged his legacy to the stock market.

the extreme volatiltiy is b e f o r e epic crashes . usually. here it seems ALL try to sell but the bots algorithms try to limit their losses and game eachother on it. else wildcards and timing? madmoneyoncnbc beckyquick ft beckyquick business wsj theeconomist

Every one is selling and no one is willing borrow to buy into the stock exchange. It’s a market correction to account for all the borrowed money to play the stocks.

That didn't work now try tax cut to the rich

I feel this move is premature. The Fed could have clearly waited for a couple of weeks to make this move. The only thing this suggests is there are a lot of unreported coronavirus cases within the United States.

Just saying

That ain't gonna fix shit and that's why the market tumbled. They got nothing.

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