Fed to pump in more than $1 trillion in dramatic market intervention

The Federal Reserve stepped into financial markets Thursday for the second day in a row and the third time this week, this time dramatically ramping up asset purchases amid the turmoil created by the coronavirus.

These changes are being made to address highly unusual disruptions in Treasury financing markets associated with the coronavirus outbreak, the New York Fed said in an early afternoon announcement amid a washout on Wall Street that was heading toward the worst day since 1987.

via www.cnbc.com