Imagine not taking action to make commerce as liquid as possible ahead of a pending national crisis, because one was afraid to be perceived as panicked? The Fed was far from cowardly on Tuesday.
Big market moves lead to more big moves as market players constantly try to reposition in response to the unstable action.
Keep a close eye on bond yields and expect worse before it gets better.
I still think we will be at an extreme oversold reading in a few days, and if we come down again, I expect another rally by early next week.
In this environment, cutting rates is no quick solution, especially without a clear picture of coronavirus outbreak in U.S.
But don't throw up your arms yet -- here are names that could be golden opportunities.
Let's break down the move and what it could mean -- and what the Fed just won't be able to help as the coronavirus spreads.
The psychology of the market will be quite different now as news hits.
This rate cut is only going to add to uncertainty and volatility.
A lot of bears want to short this bounce but they have feared the central banks.