U.S. equity futures and global stocks tumble after the Fed slashes rates to near zero, a sign that investors remain worried that the new coronavirus will fuel a recession
U.S. equity futures and global stocks tumbled after the Federal Reserve slashed its benchmark interest rate to near zero, a sign that investors remain worried that the new coronavirus will fuel a recession even with borrowing costs dropping.
Futures tied to the Dow Jones Industrial Average and S&P 500 each slid nearly 5% Monday. Trading limits prevent futures from losing more than about 5% in out-of-hours trading.
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