The Fed announces it will conduct $1 trillion in daily repo operations for the rest of March.
The Federal Reserve Bank of New York announced it will increase its daily repurchase agreement operations to $1 trillion for the rest of March. Repos are when banks submit high-quality collateral, such as Treasurys, in exchange for reserves from the Fed. Banks then use the money to fund their short-term operations.
Just five days ago, the economists had expected a 5% decline in the second quarter and a flat first quarter, but they said the sudden shutdown of large parts of the economy due to the virus is hitting the economy hard in the first and second quarter.12:19 pm: Stock losses accelerate in an effort to blunt the impact of the coronavirus. Mnuchin added that, at President Donald Trump's direction, all taxpayers and business will have this additional time to "file and make payments without interest or penalties." —Analysts upgraded a slew of stocksWells Fargo upgraded Uber to overweight from equal weight.Bank of America upgraded Nike to buy from neutral.JPMorgan upgraded Tyson Foods to overweight from neutral.
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One Dow stock is seeing its best month in years as markets crumbleAs the Dow Jones Industrial Average plummeted through 20,000 this week, one of its stocks is holding up against the sell-off.
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Stock market live Wednesday: Dow drops 1,300, trading halted again, Ackman says shut down country“I’d definitely call it a panic in the markets,” investor Bill Miller said yesterday about the recent coronavirus-induced volatility, which he calls the 5th great buying opportunity of his adult lifetime. But he adds, “it takes a lot to maintain a panic.”
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Dow Dives 9.5%; Stock Trading Halted For 4th Time In 2 WeeksThe Dow plummeted more than 2,000 points today, or 9.5%. Trading on the New York Stock Exchange was temporarily halted — for the 4th time in two weeks — after the S&P 500 index plunged 7%.
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Dow drops 1,300 points, S&P 500 loses 5% as coronavirus market sell-off reaches new lowCorrection: Stocks closed in negative territory, reaching a new coronavirus crisis low as investors worried about the economic damage from the pandemic: •The Dow dropped 6.3% •The S&P 500 was down 5.2% •The Nasdaq slid 4.7%
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New York Stock Exchange temporarily moving to fully electronic trading to prevent coronavirus spreadThe New York Stock Exchange is temporarily closing trading floors and moving to fully electronic trading next week to prevent the spread of coronavirus
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New York Stock Exchange temporarily closing trading floors, going all electronicThe New York Stock Exchange will temporarily close its trading floors and switch to all-electronic trading beginning when markets open next Monday amid the novel coronavirus outbreak. 'Trading and regulatory oversight of all NYSE-listed securities will continue without interruption,' its operator
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