Asian stock markets, US futures sink after Fed's rate cut
BEIJING (AP) — Asian stock markets and U.S. futures fell Monday after the Federal Reserve slashed its key interest rate to shore up economic growth in the face of mounting global anti-virus controls that are shutting down business and travel.
Shanghai's market benchmark fell 0.5% and Tokyo was down 0.4%. Brent crude, the international oil standard, fell 3% while gold gained.
On Wall Street, futures for the benchmark S&P 500 index fell 5% on Sunday night and triggered a halt in trading.
The Fed cut its key rate by a full percentage point — to a range between zero and 0.25% — and said it would stay there until it feels confident the economy can survive a near-shutdown of activity in the United States.
https://www.sfgate.com/news/us/article/Stock-futures-sink-after-rate-cut-new-virus-15133208.php
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