Even With Fed Aid, Stocks Slump Once Again

Dow closes down 3%
By Newser Editors and Wire Services
Posted Mar 23, 2020 3:16 PM CDT
Even With Fed Aid, Stocks Slump Once Again
This Jan. 31, 2020, file photo shows a Wall Street sign in front of the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

Stocks are ending another bumpy day broadly lower on Wall Street as investors wait to see if Democrats and Republicans can settle their differences on an economic rescue package. Major indexes ended down about 3% Monday, having been down as much as 5%. Marketwatch reports the Dow closed down 582 points at 18,592.

Earlier, markets got a bump following the latest announcement of support from the Federal Reserve, reports the AP. The Fed said it would buy as much government debt as needed to help markets operate smoothly and lend money to businesses and local governments, but the gains quickly vanished. Markets are likely to remain volatile as long as the coronavirus outbreak accelerates.

(Read more Wall Street stories.)

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