‘They Blew It’: Wall Street Reacts to Fed’s Emergency Cut
- JonesTrading’s O’Rourke points to market, says Fed ‘blew it’
- UBS Global Wealth reckons economies can recover this year
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The Federal Reserve’s shock interest-rate cut and bond-buying program rippled through global markets on Monday, with the S&P 500 Index briefly wiping out all of the gains during 2019’s rally and Treasury yields plunging at the start of what promises to be another volatile week.
Early reaction to the Fed moves on Wall Street was mixed. Some said the measures will help stabilize jittery financial markets, while others warned that the central bank’s emergency actions risked adding to investor panic.