Paging the PPT
Some interesting chats with my brothers on WhatsApp overnight: Korea in lockdown, parts of Italy the same, stockpiling of food..it's all happening.
The virus itself is one thing, but the ensuing disruptive impacts will be quite another, and are tearing a huge hole in global growth.
There was more carnage across international markets, with the FTSE back down to 1999 levels and red screens all across the world.
Since The Fed practically targets stock markets these days, Powell put out a soothing press release, which in turn led to a face-burning rally into the close for US stocks.
Source: Federal Reserve
Stock futures rallied after the close.
Closer to home, markets have moved quickly to price in two further interest rate cuts at least.
As I type this Australia's 10-year bond yield hit a record low of 0.69 per cent.