Walmart Rival Sinks Post-Earnings

All three indexes turned in losses of 2% or more

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Market Recap
MARKET RECAP
 
 

3/03/2020

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Dow Decimated Despite Fed Rate Cut

By Patrick Martin
Share On

Stocks were trounced once again today, even after the emergency efforts from the Federal Reserve. Despite a triple-digit surge out of the gate this morning, the Dow finished 786 points lower, exacerbating its losses after the central bank cut interest rates by half a percentage point in an effort to aid slower economic growth amid the coronavirus outbreak. Meanwhile, the 10-year treasury yield dipped below 1% for the first time ever.

The S&P 500 and Nasdaq both closed deep in the red, and all three benchmarks logged losses of 2% or more. The Fed’s decision to step in comes two weeks before a scheduled meeting, the first time emergency action has been taken between scheduled meetings since the 2008 financial crisis.

 

Continue reading for more on today's market, including:

  • This Walmart rival took a post-earnings hit today.
  • Analyst cheered Qiagen's big merger.
  • Plus, options bulls blast FTSV; a new bottom for Tilray stock; and Inovio Pharmaceuticals progresses COVID-19. 
>> Continue reading...
LATEST HEADLINES
>> FTSV Stock Attracts Options Bulls, Analysts
Taking a look at Wall Street's reaction to the M&A buzz surrounding Forty Seven
>> Sell-Off Brings Historic Options Trading Volume
Some traders might be betting on more downside in the coming weeks
>> Emergency Rate Cut Sends Stocks Volatile Midday
The Fed's surprise rate cut comes in the wake of economic coronavirus headwinds
>> Tilray Stock Drop Stems From Steep Quarterly Loss
A brutal quarterly report loss caused Tilray's stock to plunge further
>> Penny Stock Pops On COVID-19 Vaccine Development
INO is nearing its Jan. 27 annual high
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