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Stocks Tank Despite Interest Rate Cut by the Fed

The Dow Jones Industrial Average is falling sharply despite an interest rate cut by the Federal Reserve. The Dow fell by more than 600 points after a press conference by Fed Chairman Jerome Powell. The Fed cut a key interest rate by a half percentage point in an emergency response to the COVID-19 coronavirus outbreak.

The 10-year Treasury yield is hitting a record low again after the Federal Reserve cut a key interest rate half a percent today. It dropped more than six basis points to one-point-zero-two-six percent. The bond rate has been falling as people take money out of stocks and look for a safe place to put it.