Unlimited Support to the Markets!

Unlimited Support to the Markets!

In a statement made yesterday by the Fed, it was reported that an unlimited asset purchase decision was taken to support the markets. Despite the Fed's new open-ended monetary expansion step, the 2 trillion dollars economic incentive package offered to the Senate for the second time in the US against the Covid-19 outbreak caused the purchases to not strengthen yesterday. The International Institute of Finance (IIF) has raised its global growth forecast from 2.6 percent to 1.5 percent this year due to the outbreak, while International Monetary Fund (IMF) President Kristalina Georgieva said she expects a global recession this year. With these developments, the Dow Jones index fell 3.04 percent yesterday, the S&P 500 index fell 2.93 percent and the Nasdaq index fell 0.27 percent. On the European side, the spread of the epidemic, especially in Italy, Spain and the UK, was the main concern of the markets.