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Federal Reserve slashes rates, launches stimulus programme
The Federal Reserve cut interest rates to between 0. 00% and 0. 25% on Sunday as it announced the launch of a $700bn stimulus programme to help counter the impact of the coronavirus pandemic.
Sunday share tips: Tristel, WH Smith
Tristel will almost certainly benefit from demand for disinfection products amid the growing panic over the coronavirus, the Mail on Sunday's Midas column said.
Sunday newspaper round-up: US Federal Reserve, Reasonable force, Virgin Atlantic
The US Federal Reserve last night slashed its main interest rate by a full percentage point to near zero and said it would buy huge amounts of government bonds in a drastic bid to protect the US economy from the coronavirus outbreak. The Fed will keep interest rates at rock-bottom “until it is confident that the economy has weathered recent events” it said in an unscheduled statement. The second emergency cut in less than a week brings rates back to the same level as they were in the wake of the 2008 financial crisis.
US close: Stocks record solid gains following week of heavy losses
US stocks closed markedly higher on Friday following the Dow’s worst day since Black Monday in 1987 in the previous session.