Fed Fires Bazooka, Stimulus Stalls [Daily Recap]
- The pain continued for U.S. equity markets on Monday amid another volatile session as the mounting effects of broad coronavirus-related shutdowns continue to wreak havoc on the global economy.
- Despite an unprecedented open-ended pledge by the Federal Reserve to support U.S. markets, stocks dipped following the failure of fiscal stimulus measures in Congress.
- After a dip of 15% last week, the S&P 500 finished lower by 2.9% while the Dow Jones shed another 582 points following last week's 4,000 point plunge.
- The broad-based commercial Real Estate ETFs finished today lower by another 4.7% following last week's 25% plunge, which was the worst week for the real estate index in history.
- Tom Barrack of Colony Capital sounded the alarm today on the commercial real estate debt markets. Many REITs in at-risk sectors including retail and lodging will be in a fight for survival during the ongoing shutdowns.
Real Estate Daily Recap
The pain continued for U.S. equity markets on Monday amid another volatile session as the mounting effects of broad coronavirus-related shutdowns continue to wreak havoc on the global economy. Despite an unprecedented open-ended pledge by the Federal Reserve to support U.S. markets, stocks dipped following the failure of fiscal stimulus measures in Congress. After a dip of 15% last week, theS&P 500 ETF (SPY) finished today lower by 2.9% while the Dow Jones Industrial Average (DIA) shed another 582 points following the 4,000 point plunge last week. The broad-based commercial Real Estate ETF (VNQ) finished today lower by another 4.7% after last week's 25% plunge, which was the worst week for the real estate index in history.
