Stocks Tank Despite Interest Rate Cut by the Fed

first_imgThe 10-year Treasury yield is hitting a record low again after the Federal Reserve cut a key interest rate half a percent today. It dropped more than six basis points to one-point-zero-two-six percent. The bond rate has been falling as people take money out of stocks and look for a safe place to put it. The Dow Jones Industrial Average is falling sharply despite an interest rate cut by the Federal Reserve.The Dow fell by more than 600 points after a press conference by Fed Chairman Jerome Powell.The Fed cut a key interest rate by a half percentage point in an emergency response to the COVID-19 coronavirus outbreak. Breaking: The Fed cut its benchmark rate by a half percentage point, delivering a booster shot to stem potential economic disruptions from the coronavirus— The Wall Street Journal (@WSJ) March 3, 2020last_img

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