My Stock Buying Experiment: 1st Week Update
Everything is on fire
Hello everyone, and welcome back to the madhouse.
Is it just me, or has this week has felt like an eternity?
All around us the global share markets have been crumbling like a house on fire.
Tuesday felt like the end of the world as reporters tracked the plunging share market and compared it to the 2008 financial crisis.
However, Tuesday had to quickly move over and make room for Thursday, a day so bad that it was compared to the Black Monday crash of 1987.
In response to the devastating depth of the crash, The Federal Reserve Bank of New York injected the US stock market with $1.5 trillion to try and mitigate losses.
The Guardian published a section of a statement made by the Federal Reserve that reads as follows:
“Today, March 12, 2020, the Desk will offer $500 billion in a three-month repo operation at 1:30 pm ET that will settle on March 13, 2020. Tomorrow, the Desk will further offer $500 billion in a three-month repo operation and $500 billion in a one-month repo operation for same-day settlement. Three-month and one-month repo operations for $500 billion will be offered on a weekly basis for the remainder of the monthly schedule. The Desk will…
