US Treasury 10Y Yield Plunges Below 1% As Dow Drops >900 Points

The glee over The Fed’s emergency rate cut of 50 points was short-lived.
(Bloomberg) — Treasuries surged, driving 10-year yields below 1% for the first time ever, as traders bet the Federal Reserve’s emergency rate cut might not be enough to prevent the coronavirus from chilling the U.S. economy.
The rate on benchmark 10-year notes sank as much as 16.8 basis points to 0.9957%. Two-year yields declined up to 21.6 basis points to 0.6873%.
Only Italy has 10-year point drops of more that 10 bps.
The Dow dropped 953 points as of 2:15pm EST.
Will The Fed continue cutting? Or should The Fed use salt?

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