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Futures Fall Sharply


STOCK MARKET TODAY

Dow Jones Futures 'Limit Down' Even As Fed Cuts Rates To 0%, Plans $700 Billion In QE; Covid-19 Cases Soar Amid Coronavirus Bear Market

ED CARSON

 

06:57 PM ET 03/15/2020

Dow Jones futures fell sharply Sunday, along with S&P 500 futures and Nasdaq futures, hitting limit down once again even as the Fed cut rates by a full percentage point to 0%-0.25% and restarted quantitative easing (QE) amid the coronavirus bear market. Dow Jones stock Apple (AAPL), Nike (NKE), Microsoft (MSFT) are making news, while ZTO Express (ZTO) and Coupa Software(COUP) have earnings due with Tesla stock still in focus.

 

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It's the second emergency Fed rate cut in less than two weeks. On March 3, the Federal Reserve cut interest rates by 50 basis points. This time policymakers went even bigger, cutting Fed rates to effectively zero. And the central bank is restarting QE, with plans to buy at least $500 billion in Treasuries and $200 billion in mortgage securities in the coming months. The Fed also announced a dollar-swap program with other central banks.
President Donald Trump, who has relentlessly demanded Fed rate cuts and more rate cuts, said he was "very happy" with the terrific Fed decision. But while the Fed brought the big guns to the coronavirus bear market, it's using up its bullets.

https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-fed-cuts-rates-starts-qe-covid-19-coronavirus-bear-market-apple-microsoft-tesla/