Fed bazooka backfires, as impact of Covid-19 is still an unknown2 min read 16 Mar 2020, 12:24 PM IST
US Fed’s 100 basis points rate cut takes total cut to 150 bps in a fortnight, which is unprecedented
Trading on US bourses was halted as S&P 500 nosedived 7% as soon as the market opened
Central banks are on a rate-cutting spree worldwide. But rather than reviving markets, it is sending them in the opposite direction. The Nifty 50 fell 7.6% on Monday, while trading in US stocks was halted briefly as soon as the market opened, after S&P 500 fell 7%.
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