US stocks open in the red, despite Fed significant new stimulus

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US, WASHINGTON (ORDO NEWS) — US stocks open in the red, despite the Federal Reserve’s significant new stimulus measures aimed at keeping the US economy functioning. The Dow and S&P 500 each opened down 1.7%.

Global stock markets
File Reuters

Key US stock indexes at the opening of trading on Monday fell, despite the decision of the US Federal Reserve System to buy bonds under the program of quantitative easing in virtually unlimited quantities, depending on the needs of the economy.

As follows from the data on the website of the New York Stock Exchange, immediately after the start of trading, the Dow Jones index fell 2.86%, to 18625 points. The S&P 500 index, which includes the 500 largest companies in the US market, after opening increased by 0.24% to 2295.25 points, but after a few minutes fell to 2277 points. The Nasdaq Electronic Exchange Index lost 1.59%, down to 6762.02 points.

WTI crude oil rose 2.3% on Monday to $ 23.15 a barrel.

“We still haven’t reached a turning point, the markets are still in crisis,” the Wall Street Journal quoted MUFG Bank analyst Lee Hardman as saying. Nevertheless, he believes, there are signs that the severity of the situation is becoming less.

According to Pantheon Macroeconomics chief economist Ian Shepherdson, in order for the market situation to return to normal, access to loans, the adoption of a package of financial stabilization measures in the United States, and the slowing down of the spread of coronavirus are necessary.


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The article is written and prepared by our foreign editors from different countries around the world — material edited and published by Ordo News staff in our U.S. newsroom press.

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