The Federal Reserve delivered a 75 basis points emergency rate cut over the weekend. The Reserve also decided to launch a massive quantitative easing programme. The move is aimed at limiting the negative impact of the coronavirus outbreak but investors panic. S&P 500 futures dropped to the lower trading limit (-5%) while DAX futures point to an over 4% drop at the cash session open.
BREAKING: USD extends gains to 1% after the FOMC Conference
BREAKING: EURUSD down 0.4% after the FOMC!
Daily Summary: Will the Fed shake the market?
Warsh to bring back lower rates?