Stock futures plummeted Sunday evening after the Federal Reserve slashed interest rates to 0 percent and announced it would purchase at least $700 billion in bonds to stabilize financial markets.
Dow Jones Industrial Average futures projected a loss of 1,100 points when trading opens Monday morning, while S&P 500 and Nasdaq composite futures fell more than 4 percent, respectively.
The steep stock losses following the Fed’s emergency intervention underscores the panic reverberating throughout financial markets and the broader economy over the toll of the novel coronavirus pandemic.
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#BREAKING: Stock futures plunge after Fed slashes rates to zero https://t.co/FN5JMs0ymS pic.twitter.com/9yJjZTmIBL
— The Hill (@thehill) March 15, 2020
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