Global markets reel after Fed cuts rates to cushion effect of virus
Societe Generale strategist Kit Juckes says the central banks ‘threw the kitchen sink’ at the markets, ‘but here we are’
16 March 2020 - 12:23
London/Sydney — Stock markets were routed and the dollar stumbled on Monday after the Federal Reserve slashed US interest rates in an emergency move and its major peers offered cheap US dollars in a bid to prevent global lending markets seizing up.
The drastic manoeuvres were aimed at cushioning the economic effect as the breakneck spread of the coronavirus all but shut down more countries, but they had limited success in calming panicky investors...
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