A pedestrian passes by the New York Stock Exchange ,NYSE, in New York, the United States, March 17, 2020.
Michael Nagle | Xinhua News Agency | Getty Images
Dow Jones Industrial Average falls 390 points
Mnuchin, Powell testify
Investors turned their attention to Washington as Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee. Mnuchin said the government is “fully prepared to take losses” on coronavirus business bailouts. Powell noted “this is the biggest response by Congress ever and the fastest and biggest from us,” referring to the Fed’s and Congress’ efforts to stimulate the economy during the pandemic.
Walmart and Home Depot fall
What happens next?
Fed minutes are set for release Wednesday along with mortgage applications data.
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Published at Tue, 19 May 2020 21:04:06 +0000-Here’s what happened to the stock market on Tuesday