Historical Events tagged with "interest rates"
Turns out history loves a label—battles, breakthroughs, and the occasional disaster, all neatly tagged for your browsing pleasure. Because sometimes you just need every weird invention in one place.
Massive Stock Market Drop Amid Economic Uncertainty
The Dow Jones Industrial Average experienced a dramatic fall of 2,997.10 points, marking the largest single-point drop in its history. This plunge, which translated to a staggering 12.93% decline, surpassed even the notable crash of Black Monday in 1929. This unprecedented decline was spurred by widespread panic over the economic implications of the COVID-19 pandemic, which had begun to escalate globally. In response to the turmoil, the U.S. Federal Reserve intervened by cutting its target interest rate to a range between 0 and 0.25%, aiming to stabilize the economy and reassure financial markets shaken by the rapid changes in the global health landscape.
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