US Fed rates cut by 0.5% to a target range of 1% - 1.25%
Edited By WION Video Desk
Published: Mar 03, 2020, 20:58 IST | Updated: Mar 03, 2020, 20:58 IST
Amid coronavirus outbreak, US stocks and bond yields tumbled on Tuesday, after the Federal Reserve lowered its benchmark interest rate by 0.5 percentage point, to a target range of 1.00% to 1.25%. The yield on the 10-year Treasury note briefly dropped below 1%, a record low.
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