Major equity indexes in the US gained traction and rose decisively after the Federal Reserve’s emergency 50 basis points rate cut. However, the mood shifted, once again, during FOMC Chairman Powell’s press conference and Wall Street’s three main indexes fell sharply. As of writing, the Dow Jones Industrial Average and the S&P 500 were down 1.4% and 1.15%, respectively, while the Nasdaq Composite was erasing 0.9% on the day. Powell refrained from mentioning a possible fiscal policy response to the potential negative impact of the coronavirus outbreak on the US economy and noted that the effects haven’t been reflected upon the data yet. “We are hearing the effects are at an early stage but concerns are being voiced,” Powell said. In the meantime, the 10-year US Treasury bond yield is down 12.1% on the day at fresh all-time lows near 1.03%. Moreover, the rate-sensitive S&P 500 Financials Index is down 3% as the worst-performing major S&P 500 sector. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next OPEC+ panel recommends 600K bpd output cuts in Q2 – Reuters FX Street 3 years Major equity indexes in the US gained traction and rose decisively after the Federal Reserve's emergency 50 basis points rate cut. However, the mood shifted, once again, during FOMC Chairman Powell's press conference and Wall Street's three main indexes fell sharply. As of writing, the Dow Jones Industrial Average and the S&P 500 were down 1.4% and 1.15%, respectively, while the Nasdaq Composite was erasing 0.9% on the day. Powell refrained from mentioning a possible fiscal policy response to the potential negative impact of the coronavirus outbreak on the US economy and noted that the effects haven't been reflected upon… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.