© Reuters. Jerome Powell
Yassin Ibrahim wrote
Investing.com – Wall Street rose from session declines, as the Fed pumped more liquidity into the market, a day after the interest rates were cut to near zero. Bringing the Fed back to the era of the financial crisis, with a massive bond-buying program, to keep the negative effects of the Corona virus out of the market.
It slid 6.91%, lost 7.31%, while the industrial lost 1,800 points, 7.8%, and the index recorded the lowest decline by 2,800 points, when the session declined.
A New York Fed said it would start $ 500 billion in repo transactions, to keep short-term financing markets out of tight liquidity.
A New York Fed decision comes after the Federal Reserve yesterday cut the interest rate by 100 basis points, ranging from 0% to 0.25%.
The central bank also put forward a plan to stimulate liquidity in the markets, including exchanging currencies with other major central banks, so that financial institutions have access to the dollar.
These moves did not contribute to calm the horrors of the markets, which continue to terrify the corona virus generation, and Wall Street suspended trading at the opening, after falling by 7%.
Wall Street liquidation comes with new health decisions that have raised concerns about the United States’ inability to conduct HIV testing.
The WHO said: “We have not seen any urgent escalation in testing, isolation, and tracking of mixing, and this backbone of response.”
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