Name: Business Report: US makes surprise cut to interest rates
Uploaded: 2020-03-17T03:41:06.000Z
Duration: 3 min 30 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

our business editor Richard Sothern joins us now.

It's been a few wild few days on the markets.

Federal Reserve taking a pretty rare step today.

An emergency interest rate cut from the U.

S central bank mark in order to, you know, try and shore up the financial markets and mitigate some of the economic impact of the Corona virus.

Usually, when the Fed cuts rates, stocks go up.

The Dow Jones industrial average cratering another 785 points, or 3%.

CSX held up a little bit better but was still down 129 points.

The last time we saw an emergency out of the blue rate cut from the U.

S Fed was Oh, it's in the depths of the financial crisis.

It's never a good thing when it happens, and market had traders wondering.

Is this Corona virus deal worse than we have been led to believe?

That caused a little bit of panic on financial marks.

Perhaps it's worked in the opposite direction as a result of some speculation, and tomorrow it's the Bank of Canada with a scheduled interest rate decision, most everyone now expecting it's to cut rates.

All right Now, companies around the world are also scrambling to respond to the Corona virus, including tinder, yes, indeed, mark the dating app.

When you're scanning through all the profiles, you get this message, it says.

Well, we want you to continue having fun.

Protecting yourself from the Corona virus is more important.

Here is some steps to do, they say Wash your hands frequently.

Carry hand sanitizer, Avoid touching your face.

Maintain social distance and public gatherings.

Of course, tinder the dating app is a company that relies, I suppose, on close contact so they're tryingto get that message out.

One Twitter user, in response to this said quote tinder out here, protecting me from Corona wires more than they're protecting me from bad pickup lines and weirdos.

China flew into the Corona virus situation.

All right, the rail blockades we've seen across Canada in recent weeks are mostly over.

And that means life is kind of getting back to normal for CN rail at least.

And it's good news for the 450 c N workers that were laid off about two weeks ago.

Mark there, most of them being rehired now by Canadian National, of course, the blockade set up by backers of the wet suet and chiefs who opposed a natural gas pipeline being built on their territory.

Police last week arrested several people, dismounted dismantled most of the blockades.

CN today said that about 1400 freight and passenger trains were affected by it, but it's getting back on track now.

However, this is a company that's very exposed to the overall economy, and so any Corona virus led economic downturn it's certainly affect CN Rail on their stock was lower on the street.

I think a lot of people have said transportation of goods is a big factor in all of this for sure is gas prices.

No good news here in that we had a big spike for oil yesterday.

It's going to show up at the gas pumps at midnight tonight.

We're looking at a two cent increase to just shy of a dollar.

I'm back just after 6 30 There's an interesting new study out on the potential benefits of procrastination.

And I'm I'm gonna have that story for you If I get around to it.

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Business Report: US makes surprise cut to interest rates

potential

physical

panic

crisis