US interest rates cut amid concerns over coronavirus fallout
Paul McNamara
Senior Political Correspondent
In the United States, the Federal Reserve has cut interest rates by half a percentage point in a bid to shore up the economy and financial markets amid all the coronavirus panic.
In the United States, the Federal Reserve has cut interest rates by half a percentage point in a bid to shore up the economy and financial markets amid all the coronavirus panic. But the surprise move has got a mixed review from investors – shares in the US initially rose but then fell back – dropping 500 points at one stage.