Dow plummets despite Fed's emergency rate cut over coronavirus

The Federal Reserve announced a surprise rate cut of half a percentage point on Tuesday in an effort to mitigate the economic impacts of the coronavirus outbreak on the U.S. economy.

"The fundamentals of the U.S. economy remain strong," said a statement Tuesday from the Federal Reserve."However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/2 percentage point, to 1 to 1‑1/4 percent.

— Donald J. Trump March 3, 2020 Trump responded to the news in a separate tweet, calling for even more action. "We expect similar efforts by monetary authorities around the world, with many governments also likely stepping in with fiscal stimulus as well," Sheth added."Nonetheless, until the virus is contained, we forecast that global economic activity will slow materially."World finance leaders from the Group of 7 nations also held a call Tuesday led by Federal Reserve Chair Jerome Powell and U.S. Treasury Secretary Steven Mnuchin.

Oh, shoot. That didn’t work! NOW what do we do? Ask, Donnie the Great!

Interest rate cuts do not cure Corona or calm fears.

United States Latest News, United States Headlines

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

Dow plunges more than 700 points despite the Fed cutting ratesStocks fell at the close, even after the Fed issued an emergency rate cut earlier today. The Dow was down more than 700 points, up from session lows of more than 800. But but.. Kudlow said it was contained.. No one lost money today. You can’t lose what you never had. Ponziassets stocks stockmarket
Source: CNBC - 🏆 12. / 72 Read more »

Dow surges, gains over 1,200 points in biggest one-day point gain everWall Street rebounded Monday morning after weathering its worst week in a decade amid rising fears that the coronavirus will ding the global economy and stunt growth. Dow Bullish on Disease Dead cat bounce
Source: YahooNews - 🏆 380. / 59 Read more »

Dow futures drop as coronavirus fears continueStock futures have plummeted — a sign that the markets may be in for another rough week as fears about the novel coronavirus outbreak continue to mount. we know you guys at CNN are cheering It’s a hoax guys. Just another goddamn democrat hoax Except markets are amazing besides your hoax of a bullshit post, trump will make sure it’s amazing like he has. Take your fake news elsewhere
Source: CNN - 🏆 4. / 95 Read more »

Dow rallies 800 points, looking to snap 7-day losing streakThe Dow rallies more than 600 points after last week's coronavirus-linked losses Be careful The DNC is going to get massacred at the ballot box in November.
Source: cnnbrk - 🏆 393. / 55 Read more »

Robinhood App Down As Dow Surges Back UpMobile trading app Robinhood is suffering an outage the day the Dow is trying to regain last week's losses. Seems kinda suspect AF It’s a juggernaut. Don’t feel bad, you’re not the first suckers to get intoxicated.
Source: Forbes - 🏆 394. / 53 Read more »

Dow Industrials Rally 5% on Central-Bank Stimulus HopesThe Dow industrials closed nearly 1,300 points higher while U.S. government bond yields hit new lows, with investors hoping central banks can stabilize markets and shield economic growth from the impact of the coronavirus. On JoeBiden hopes realDonaldTrump back in the game baby!!! totallynormal
Source: WSJ - 🏆 98. / 63 Read more »