Dow plunges 2,700 points after trading halt as Fed's emergency actions fail to calm worries over coronavirus fallout
. The central bank also said that it will increase bond holdings by $700 billion and reduce reserve ratio requirement ratios to 0%. Other central banks around the world responded with similar actions.
"The Fed has thrown most its weight behind this move, offering almost everything it has to give, which raises the inevitable question – if this doesn't work, what will?" Seema Shah, chief strategist at Principal Global Investors, said to Business Insider. She added: "Even if the Fed is able to put a floor under markets, asset prices are unlikely to begin recovering until coronavirus spread plateaus.
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