You are here: Home » Markets » News
Business Standard

Wall Street losses deepen after Fed emergency rate cut over Coronavirus

It was the Federal Reserve's first emergency rate cut since the 2008 financial crisis, underscoring how grave the central bank views the fast-evolving situation

Topics
Coronavirus | Wall Streets | US Federal Reserve

Reuters 

US stock markets fell sharply on Tuesday on worries that even a half percentage-point cut in interest rates might not be enough to stave off the economic impact of the coronavirus outbreak and halt the worst sell-off in more than a decade. It was the Federal Reserve's first emergency rate cut since the 2008 financial crisis, underscoring how grave the central bank views the fast-evolving situation. Stocks initially jumped more than 1 per cent on the news, but gains soon petered out as analysts and traders worried whether pumping more money into financial markets would ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, March 03 2020. 20:48 IST
RECOMMENDED FOR YOU