NY Fed to buy a range of Treasurys to try to ease jitters

The Associated Press
March 12, 2020 - 12:14 pm

Traders Edward Curran, left, and Jonathan Mueller work on the floor of the New York Stock Exchange, Thursday, March 12, 2020. The deepening coronavirus crisis is sending stocks into another alarming slide on Wall Street, triggering a brief, automatic shutdown in trading for the second time this week. (AP Photo/Richard Drew)

WASHINGTON (AP) — The New York Federal Reserve is stepping up its purchases of Treasurys to try to ease jitters in the financial markets over the coronavirus outbreak. The Fed is also injecting $500 billion into short-term lending markets to address disruptions in the Treasury market. The move caused the stock market to sharply pare its losses.

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