Live Updates: U.S. stocks nosedive, trading paused as emergency Fed action fails to mollify investors
The Dow erased most of the nearly 2,000-point jolt it got Friday after President Trump issued an emergency declaration over the
After an emergency meeting Sunday, the Federal Reserve announced that it would slash the benchmark interest rate to between zero and 0.25 percent (down from a range of 1 to 1.25 percent) and buy $700 billion in Treasury bonds and mortgage-backed securities. The Fed also said it would revive the crisis-era program of bond purchases known as “quantitative easing,” in which the central bank buys hundreds of billions of dollars in bonds to further push down rates and keep markets flowing freely.
The Fed intervention
“There can be no denying the Fed’s commitment to