The Fed and other central banks open the monetary floodgates, but markets around the world are still in freefall as the coronavirus pandemic spreads across the U.S. and Europe. The rest is just details. Here’s what you need to know in financial markets on Monday, March 16th.
1. Fed takes emergency action
The Federal Reserve took more emergency action to stem the panic in global financial markets, cutting the target range for fed funds to near 0% and resuming large-scale asset purchases to ensure liquidity.
The Fed said it will buy $500 billion of U.S. Treasury bonds and $200 billion of agency debt, although it didn’t specify a timeframe for its purchases.

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