- Aug 1, 2006
Most of the tools used in 2008 to ease financial crash were deployed and the markets went down. Volatility remains a record highs.
https://www.bloomberg.com/news/articles/2020-03-16/u-s-futures-higher-in-choppy-opening-after-worst-rout-since-87?srnd=markets-vpU.S. Stock Futures Stay Volatile After Worst Rout Since 1987
S&P 500 plunged most since 1987, Dow fell almost 3,000 points
U.S. stock swung between sizable gains and losses in a choppy opening following the biggest rout in American equities since 1987, as volatility continued to grip financial markets with the coronavirus upending daily life across the country.
In an escalation of the worst turmoil since the 2008 financial crisis, stock markets suffered further sharp losses on Monday despite dramatic action taken by the US central bank late on Sunday in an attempt to limit the economic impact of the coronavirus pandemic.
https://www.bloomberg.com/news/articles/2020-03-15/oil-drops-in-volatile-trade-as-fed-cuts-rates-travel-bans-grow?srnd=markets-vpOil Slumps to Lowest Since 2016 as Demand Collapse Triggers Rout
Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual demand in history.
Global benchmark Brent crude fell more than 12.5% after Saudi Aramco’s chief financial officer said the company is “very comfortable” with oil at $30 a barrel. Demand for fuels is falling off a cliff as a result of global restrictions to prevent the spread of virus, with gasoline futures reaching their weakest level since at least 2005.
https://www.bloomberg.com/news/articles/2020-03-16/stock-market-volatility-tops-financial-crisis-with-vix-at-record?srnd=markets-vpStock Market Volatility Tops Financial Crisis With VIX at Record
“In 2008, you pretty much knew it was banking system breaking down, but didn’t know exactly how, and now it’s everything breaking down and how that spills over,” said Steve Sosnick, chief strategist at Interactive Brokers. “The latter is worse, I’d argue -- this is dislocating everything.”
https://www.bbc.com/news/business-51901998US goes to almost zero and launches huge stimulus programme
The US has cut interest rates to almost zero and launched a $700bn stimulus programme in a bid to protect the economy from the effect of coronavirus.
It is part of a co-ordinated action announced on Sunday in the UK, Japan, eurozone, Canada, and Switzerland.