It was a very rough week for the market, with all 4 major indexes losing over -12%. The Tech-heavy held up the best but still lost -12.64%. The mega-caps lagged, losing -17.3%, dominated by Boeing (NYSE:), which lost -44%, while Chevron (NYSE:) lost -29% and AAPL lost over -17%.
“In the second emergency interest-rate cut in two weeks on Sunday, the Fed slashed its benchmark back to essentially zero and announced a massive program of bond-buying. It was the latest attempt to save an 11-year expansion from the pandemic, which has wreaked havoc across financial markets and threatens to tip the U.S. into recession too — if it hasn’t done so already.” (Bloomberg)
“The U.S. Federal Reserve said on Tuesday it would reinstate a funding facility used during the 2008 financial crisis to get credit directly to businesses and households as fears over a liquidity crunch due to the coronavirus have grown in recent days. The reintroduction of the so-called…