[262] The Federal Reserve announced that it would increase the top level of its overnight repurchase operations to $175 billion. [472] The U.S. Senate unanimously passed the $2.2 trillion fiscal stimulus package introduced by Senate Majority Leader Mitch McConnell the preceding week. The biggest discounts targeted Russian oil customers in northwestern Europe. “Daily Treasury Yield Curve Rates.” Accessed April 27, 2020. COVID-19's mortality rate so far is more deadly than the seasonal flu's rate, but that’s because many more cases of the flu are reported annually. Dow Drops 1 400 Points And Tumbles Into A Bear Market … [173], On 5 March, Asia-Pacific stock markets continued rising while European stock markets closed down. [249] The Central Bank of Russia announced a repo auction of ₽500 billion (or $7 billion) and increased its foreign exchange swap operation limit to up to $5 billion. [225] In Pakistan, the PSX saw the largest ever intra-day plunge in the country's history, losing 2,302 points or 6.0%. [210] Brazil's IBOVESPA gave up 12%, erasing over 15 months of gains for the index. At the time, it was the worst drop since the Great Recession in 2008.[16][17]. The market closed with the KSE 100 index down 3.1%. [345][346][347] The Dow Jones Industrial Average, the NASDAQ Composite, and the S&P 500 all fell by 12–13%, with the Dow eclipsing the one-day drop record set on 12 March and the trading curb being activated at the beginning of trading for the third time (after 9 and 12 March). [252], On 11 March, Asia-Pacific and European stock markets closed down (with the S&P/ASX 200 on the Australian Securities Exchange falling to more than 20% below its 52-week high),[253][254] while the NASDAQ Composite and the S&P 500 both fell by 5% and the Dow Jones Industrial Average by 6% (with the Dow also falling to more than 20% below its most recent record high set on 19 February). How Does the 2020 Stock Market Crash Compare With Others? [404], The Bank of England announced that it would cut its overnight rate by 15 basis points to 0.1% and would increase its open market purchases of government bonds by £200 billion to a total of £645 billion,[405][406] while the Danmarks Nationalbank raised its deposit rate by 15 basis points to –0.60%. [533] Oil prices fell,[534] while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.61% and 1.23% respectively (while their yield curve finished normal). Fastest Plunge Of 20% On Record", "Wall Street plunges, bringing record bull run to an end", "Oil drops as much as 8%, on pace for worst week in more than a decade", "10-year Treasury yield rises even as stocks tumble into bear market", "Coronavirus: FTSE 100, Dow, S&P 500 in worst day since 1987", "Canadian stock market bloodbath: Worst one-day fall in 80 years", "Borse, Piazza Affari chiude a -16,92%. Although this dramatic 2020 market crash is still fresh in everyone’s mind, let’s take a closer look at what happened and why. London's FTSE 100 lost 7.7%, suffering its worst drop since the 2008 financial crisis. What's Really Causing These Flash Crashes? Interest rates for all long-term, fixed-interest loans follow the yield on the 10-year Treasury note. [506] The Bank of Canada cut its overnight rate by an additional 50 basis points to 0.25%. [235], As the hashtag #BlackMonday trended on Twitter,[236] news organizations such as the Associated Press,[237] The Economist,[238] and Yahoo Finance UK adopted the term on the day it occurred. [61], On 12 February, Asia-Pacific stock markets closed down while European stock markets closed up,[62][63] while the Dow Jones Industrial Average, NASDAQ Composite, and S&P 500 all closed at new record highs. [113][114] Yields on 10-year and 30-year U.S. Treasury securities fell to 1.36% and 1.81% respectively. Check this link if you are interested in trading Accessed April 27, 2020. [348] Oil prices fell by 10%,[349] while the yields on 10-year and 30-year U.S. Treasury securities fell to 0.76% and 1.38% respectively (while their yield curve remained normal for the third straight trading session).