Major markets are sliding again Monday as governments and bank officials struggle to deal with the economic fallout of the pandemic. The Dow has plunged about 36% from its February high.
to help the bond market, companies and consumers — and the central bank's vow to use"its full range of tools."
The Dow was down more than 300 points, or 1.6%. The S&P 500 index was also down about 1.6%. The Nasdaq was down 0.3%. The Dow has plunged about 36% from its February high.. On Monday, the central bank said it will buy bonds and mortgage-backed securities"in the amounts needed" to keep markets working smoothly. And it said it expects to announce a"Main Street Business Lending Program to support lending to eligible small-and-medium sized businesses.".
"We've known that the magnitude of help needed has been massive and growing for days now," said Mark Hamrick, senior economic analyst for Bankrate."The Federal Reserve continues to do all it can to keep markets operating. Now, the spotlight is on elected leaders to do their jobs as well."
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