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home / news releases / TYBS - The Fed's Baffling Response To The Coronavirus Explained


TYBS - The Fed's Baffling Response To The Coronavirus Explained

When the World Health Organization announced on February 24th that it was time to prepare for a global pandemic, the stock market plummeted. Over the following week, the Dow Jones Industrial Average dropped by more than 3,500 points or over 10%. In an attempt to contain the damage, on March 3rd, the Federal Reserve slashed the fed funds rate from 1.5% to 1.0%, in their first emergency rate move and biggest one-time cut since the 2008 financial crisis. But rather than reassuring investors, the move fueled another panic sell-off.

Exasperated commentators on CNBC wondered what

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Stock Information

Company Name: Direxion Daily 20+ Year Treasury Bear 1X Shares Direxion Shares ETF Trust
Stock Symbol: TYBS
Market: NYSE

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