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The US Federal Reserve ignites the markets after the decision to cut rates to zero
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Economy News _ Baghdad
The futures of the three major US indexes fell sharply (more than 4%) after the Fed decided to cut rates to zero.
The futures contracts for oil in the early Asian trade also hit the US indicators, Brent crude fell by 5% to $ 32.22 a barrel, and the NYMEX crude fell by 4% to $ 30.46 a barrel.
While gold futures rose more than 2% to $ 1547 an ounce.
It is noteworthy that the US Federal Reserve cut interest rates for the second time in less than two weeks on Sunday, in a new and extraordinary step to support the US economy amid the ever-expanding Corona Virus pandemic worldwide, and launched a 700 billion dollar quantitative easing program.
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